Newmont Goldcorp Corp (NEM)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 18,557,000 | 11,812,000 | 11,915,000 | 12,222,000 | 11,497,000 |
| Total assets | US$ in thousands | 56,349,000 | 55,506,000 | 38,482,000 | 40,564,000 | 41,369,000 |
| Total asset turnover | 0.33 | 0.21 | 0.31 | 0.30 | 0.28 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $18,557,000K ÷ $56,349,000K
= 0.33
The total asset turnover ratio measures a company's ability to generate revenue in relation to its total assets. In the case of Newmont Goldcorp Corp, the ratio has shown a gradual improvement over the years, increasing from 0.28 in December 2020 to 0.33 by December 2024. This indicates that the company is becoming more efficient in utilizing its assets to generate revenue. However, it is worth noting that there was a slight dip in performance in December 2023, where the ratio dropped to 0.21. Overall, the increasing trend suggests that Newmont Goldcorp Corp is effectively managing its assets to drive sales, which could be a positive sign for investors and stakeholders.