Newmont Goldcorp Corp (NEM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,635,000 | 11,807,000 | 12,171,000 | 11,286,000 | 9,673,000 |
| Total assets | US$ in thousands | 55,506,000 | 38,482,000 | 40,564,000 | 41,369,000 | 39,974,000 |
| Total asset turnover | 0.21 | 0.31 | 0.30 | 0.27 | 0.24 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $11,635,000K ÷ $55,506,000K
= 0.21
The total asset turnover ratio for Newmont Corp has fluctuated over the past five years. In 2023, the total asset turnover ratio was 0.21, indicating that for every dollar of total assets, the company generated $0.21 in revenue. This represents a decrease from the previous year where the ratio was 0.31.
Comparing to 2021 and 2020, the total asset turnover ratio was relatively stable at around 0.30 and 0.28 respectively. However, there was a noticeable improvement compared to 2019 when the ratio was 0.24.
Overall, the declining trend in the total asset turnover ratio from 2022 to 2023 suggests that Newmont Corp may have experienced challenges in efficiently generating sales from its total assets during the most recent year. Further analysis and a deeper understanding of the company's operational efficiency are recommended to assess the implications of this trend on its financial performance.