Newmont Goldcorp Corp (NEM)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 11,635,000 | 10,897,000 | 11,038,000 | 11,451,000 | 11,807,000 | 12,044,000 | 12,312,000 | 12,300,000 | 12,171,000 | 12,135,000 | 12,371,000 | 11,608,000 | 11,286,000 | 10,998,000 | 10,564,000 | 10,515,000 | 9,743,000 | 8,824,000 | 7,852,000 | 7,267,000 |
| Total assets | US$ in thousands | 55,506,000 | 38,084,000 | 38,133,000 | 38,374,000 | 38,482,000 | 39,143,000 | 39,690,000 | 39,913,000 | 40,564,000 | 39,865,000 | 40,677,000 | 41,063,000 | 41,369,000 | 40,551,000 | 39,885,000 | 39,699,000 | 39,974,000 | 40,763,000 | 36,987,000 | 20,880,000 |
| Total asset turnover | 0.21 | 0.29 | 0.29 | 0.30 | 0.31 | 0.31 | 0.31 | 0.31 | 0.30 | 0.30 | 0.30 | 0.28 | 0.27 | 0.27 | 0.26 | 0.26 | 0.24 | 0.22 | 0.21 | 0.35 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $11,635,000K ÷ $55,506,000K
= 0.21
The total asset turnover ratio of Newmont Corp has shown a decreasing trend over the past four quarters. In Q4 2023, the total asset turnover ratio was at 0.21, which indicates that the company generated $0.21 in net sales for every dollar of total assets. This was lower compared to the previous quarter where the ratio was 0.29.
The declining trend in total asset turnover may suggest that Newmont Corp is becoming less efficient in utilizing its assets to generate sales revenue. It is important to further investigate the reasons behind this decline and assess if there are any underlying issues impacting the company's operational performance and asset management efficiency.
Comparing the total asset turnover ratios to industry benchmarks and historical data of the company can provide more insights into its financial health and operational efficiency. Management should focus on improving asset utilization and operational efficiency to enhance the company's profitability and long-term sustainability.