Northrop Grumman Corporation (NOC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 39,290,000 | 36,602,000 | 35,667,000 | 36,799,000 | 33,841,000 |
| Total assets | US$ in thousands | 46,544,000 | 43,755,000 | 42,579,000 | 44,469,000 | 41,089,000 |
| Total asset turnover | 0.84 | 0.84 | 0.84 | 0.83 | 0.82 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $39,290,000K ÷ $46,544,000K
= 0.84
The total asset turnover for Northrop Grumman Corp. has remained relatively stable over the past five years, ranging from 0.82 to 0.84. This ratio measures the company's efficiency in generating sales revenue from its total assets. A ratio below 1 indicates that the company is not efficiently utilizing its assets to generate sales. Despite the consistency in the ratio, it suggests that Northrop Grumman could potentially improve its asset utilization to increase sales revenue. Further analysis of the company's operational and investment strategies could provide insights into the factors influencing the total asset turnover.
Peer comparison
Dec 31, 2023