O-I Glass Inc (OI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,759,000 | 6,615,000 | 6,138,000 | 6,097,000 | 6,375,000 |
| Total assets | US$ in thousands | 9,669,000 | 9,061,000 | 8,832,000 | 8,882,000 | 9,610,000 |
| Total asset turnover | 0.70 | 0.73 | 0.69 | 0.69 | 0.66 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,759,000K ÷ $9,669,000K
= 0.70
O-I Glass Inc's total asset turnover has shown some fluctuations over the past five years. The ratios for the years ending December 31, 2023, and 2022 were 0.70 and 0.73 respectively, indicating a slight decrease. This suggests that the company generated $0.70 and $0.73 in sales for every dollar of assets in those years.
The total asset turnover ratio for 2021 remained relatively stable at 0.69, while for 2020 and 2019, it was also consistent at 0.69 and 0.66 respectively. These figures imply that the company has been effectively utilizing its assets to generate revenue, with a consistent trend in recent years.
Overall, O-I Glass Inc's total asset turnover ratio has been relatively steady, showing a consistent ability to generate sales with its asset base, albeit with a slight decline in 2023 compared to the previous year. Further analysis of the company's operations and industry benchmarks could provide more insights into the efficiency of its asset utilization.