Envista Holdings Corp (NVST)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,566,500 | 2,569,100 | 2,508,900 | 1,929,100 | 2,284,800 |
| Total assets | US$ in thousands | 6,605,100 | 6,587,000 | 6,574,200 | 6,876,000 | 6,158,300 |
| Total asset turnover | 0.39 | 0.39 | 0.38 | 0.28 | 0.37 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,566,500K ÷ $6,605,100K
= 0.39
The total asset turnover of Envista Holdings Corp has been relatively stable over the years, ranging between 0.33 and 0.45. This ratio indicates that for every dollar of total assets the company had, it generated between $0.33 and $0.45 of revenue during the respective years.
A total asset turnover ratio of 0.39 in both 2023 and 2022 suggests that the company continued to generate consistent revenue relative to its total assets in those years. Meanwhile, a slight decrease to 0.38 in 2021 may indicate a slightly lower efficiency in utilizing assets to generate revenue compared to the preceding years.
In comparison, the total asset turnover was at its lowest point in 2020 at 0.33, which may suggest a period of lower efficiency in utilizing assets to generate revenue. However, this improved in 2019 with a total asset turnover of 0.45, indicating that the company was able to generate more revenue relative to its total assets during that year.
Overall, Envista Holdings Corp's total asset turnover ratio fluctuated within a relatively narrow range over the past five years, showing variations in how efficiently the company utilized its assets to generate revenue.
Peer comparison
Dec 31, 2023