Polaris Industries Inc (PII)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,809,400 | 8,517,300 | 8,117,900 | 6,963,800 | 6,704,930 |
| Total assets | US$ in thousands | 5,516,300 | 5,217,900 | 5,047,800 | 4,632,700 | 4,430,500 |
| Total asset turnover | 1.60 | 1.63 | 1.61 | 1.50 | 1.51 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $8,809,400K ÷ $5,516,300K
= 1.60
Polaris Inc's total asset turnover ratio has shown some fluctuations over the past five years. The ratio measures the company's efficiency in generating revenue from its total assets. A higher total asset turnover indicates that the company is effectively using its assets to generate sales.
In 2023, Polaris Inc's total asset turnover was 1.62, slightly lower than the previous year's figure of 1.65. This slight decrease may indicate a minor decrease in the company's efficiency in utilizing its assets to generate revenue.
Comparing the 2023 ratio to figures from 2021 and 2022, where the ratio was also around 1.62, suggests some stability in the company's asset utilization efficiency over these years.
In 2020 and 2019, Polaris Inc's total asset turnover was 1.52 and 1.53, respectively. The slight increase in the ratio in 2023 compared to these two years indicates an improvement in the company's efficiency in generating sales from its assets.
Overall, Polaris Inc's total asset turnover has shown some variability but has remained relatively stable over the past five years, indicating a consistent, albeit not significant, level of efficiency in utilizing its assets to generate revenue.