Packaging Corp of America (PKG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,717,400 | 8,363,100 | 7,482,900 | 6,538,200 | 6,788,300 |
| Total assets | US$ in thousands | 8,681,100 | 8,003,800 | 7,836,800 | 7,433,200 | 7,235,800 |
| Total asset turnover | 0.89 | 1.04 | 0.95 | 0.88 | 0.94 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $7,717,400K ÷ $8,681,100K
= 0.89
Packaging Corp of America's total asset turnover has fluctuated over the past five years, with values ranging from 0.90 to 1.06. Total asset turnover is a measure of how efficiently a company is using its assets to generate revenue. A higher total asset turnover indicates that the company is generating more revenue per dollar of assets.
In 2022, the total asset turnover was at its highest at 1.06, suggesting that the company was able to generate more revenue relative to its total assets during that year. However, in 2023, the total asset turnover decreased to 0.90, indicating a slight decline in efficiency in utilizing assets to generate revenue compared to the previous year.
Overall, the trend in total asset turnover for Packaging Corp of America shows some variation, but it is important to consider other financial metrics and factors to gain a comprehensive understanding of the company's financial performance and efficiency in asset utilization.
Peer comparison
Dec 31, 2023