Owens Corning Inc (OC)
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 | 9,599,000 | 9,515,000 | 9,565,000 | 9,603,000 | 9,618,000 | 9,473,000 | 9,157,000 | 8,795,000 | 8,364,000 | 8,166,000 | 7,857,000 | 7,243,000 | 6,929,000 | 6,822,000 | 6,801,000 | 7,094,000 | 7,160,000 | 7,192,000 | 7,127,000 | 7,033,000 |
| Total assets | US$ in thousands | 11,237,000 | 11,069,000 | 11,001,000 | 10,840,000 | 10,752,000 | 10,721,000 | 10,543,000 | 10,316,000 | 10,015,000 | 9,981,000 | 9,977,000 | 9,560,000 | 9,481,000 | 9,398,000 | 9,370,000 | 9,151,000 | 10,006,000 | 9,955,000 | 10,183,000 | 10,265,000 |
| Total asset turnover | 0.85 | 0.86 | 0.87 | 0.89 | 0.89 | 0.88 | 0.87 | 0.85 | 0.84 | 0.82 | 0.79 | 0.76 | 0.73 | 0.73 | 0.73 | 0.78 | 0.72 | 0.72 | 0.70 | 0.69 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,599,000K ÷ $11,237,000K
= 0.85
Owens Corning's total asset turnover has shown a fluctuating trend over the past eight quarters, ranging from 0.86 to 0.91. The company's ability to generate sales from its total assets has been relatively stable, with minor variations observed. Generally, a higher total asset turnover ratio indicates that the company is utilizing its assets more efficiently to generate revenue.
In this case, Owens Corning's total asset turnover has hovered around the 0.87 to 0.91 range, suggesting a moderate level of efficiency in asset utilization. It indicates that the company is generating approximately $0.87 to $0.91 in sales for every dollar invested in total assets.
While the slight fluctuations in the total asset turnover ratio may be influenced by various factors such as market conditions, operational efficiency, or changes in asset management strategies, the overall trend does not show a significant deviation from the average range.
In conclusion, Owens Corning's total asset turnover ratio reflects a consistent level of asset utilization efficiency over the past eight quarters, highlighting the company's ability to efficiently generate sales from its total assets.