Ingevity Corp (NGVT)
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 | 1,595,100 | 1,639,900 | 1,675,900 | 1,614,000 | 1,604,200 | 1,566,500 | 1,461,300 | 1,399,800 | 1,337,300 | 1,381,100 | 1,336,000 | 1,248,200 | 1,215,700 | 1,193,500 | 1,220,200 | 1,300,800 | 1,289,800 | 1,265,000 | 1,217,800 | 1,483,800 |
| Total assets | US$ in thousands | 2,623,300 | 2,766,800 | 2,828,300 | 2,772,200 | 2,736,500 | 2,335,400 | 2,366,000 | 2,455,800 | 2,469,000 | 2,426,200 | 2,389,000 | 2,342,500 | 2,334,500 | 2,258,200 | 2,195,500 | 2,353,300 | 2,141,700 | 2,118,800 | 2,129,500 | 2,107,200 |
| Total asset turnover | 0.61 | 0.59 | 0.59 | 0.58 | 0.59 | 0.67 | 0.62 | 0.57 | 0.54 | 0.57 | 0.56 | 0.53 | 0.52 | 0.53 | 0.56 | 0.55 | 0.60 | 0.60 | 0.57 | 0.70 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,595,100K ÷ $2,623,300K
= 0.61
Ingevity Corp's total asset turnover ratio has fluctuated over the past eight quarters. The ratio has ranged from a high of 0.69 in Q3 2022 to a low of 0.59 in Q1 2022. Overall, the company's total asset turnover has been relatively stable, hovering around the 0.60 mark for most of the periods analyzed.
A total asset turnover ratio of less than 1 indicates that Ingevity Corp generates less in sales relative to its total assets. This could be a sign of inefficiency in utilizing the company's assets to generate revenue. However, it is essential to consider industry norms and compare the ratio with competitors to draw more meaningful conclusions about the company's performance.
Further analysis of the company's operating efficiency, asset management, and overall business strategy may provide insights into the factors influencing the total asset turnover ratio and help identify areas for improvement.
Peer comparison
Dec 31, 2023