O-I Glass Inc (OI)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,531,000 | 7,105,000 | 6,615,000 | 6,138,000 | 6,097,000 |
| Total assets | US$ in thousands | 8,654,000 | 9,669,000 | 9,061,000 | 8,832,000 | 8,882,000 |
| Total asset turnover | 0.75 | 0.73 | 0.73 | 0.69 | 0.69 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,531,000K ÷ $8,654,000K
= 0.75
O-I Glass Inc's total asset turnover ratio has shown a steady increase over the years, from 0.69 in both 2020 and 2021 to 0.75 in 2024. This indicates that the company is generating more revenue relative to its total assets, which is a positive sign of efficiency in utilizing its assets to drive sales. The improvement in total asset turnover suggests that O-I Glass Inc has been able to increase its productivity and optimize its asset utilization, potentially through better operational efficiency or effective capital deployment. Overall, the increasing trend in total asset turnover reflects positively on the company's ability to generate sales from its asset base.