Philip Morris International Inc (PM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 33,808,000 | 115,302,000 | 116,285,000 | 107,266,000 | 110,502,000 |
| Total assets | US$ in thousands | 65,304,000 | 61,681,000 | 41,290,000 | 44,815,000 | 42,875,000 |
| Total asset turnover | 0.52 | 1.87 | 2.82 | 2.39 | 2.58 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $33,808,000K ÷ $65,304,000K
= 0.52
Philip Morris International Inc's total asset turnover ratio measures the company's efficiency in generating sales revenue relative to its total assets. The trend for the total asset turnover ratio over the past five years shows some fluctuations. In 2023, the ratio stands at 0.54, which indicates that for every dollar of total assets, the company generated $0.54 of sales revenue.
Comparing this to previous years, in 2022, the total asset turnover ratio was 0.51, showing a slight increase from the previous year. However, the ratio was higher in 2021 at 0.76, suggesting that the company was more efficient in utilizing its assets to generate revenue. In 2020 and 2019, the total asset turnover ratios were 0.64 and 0.70, respectively.
Overall, the fluctuations in the total asset turnover ratio indicate varying levels of efficiency in utilizing the company's assets to generate sales revenue over the past five years. Further analysis would be needed to understand the factors contributing to these changes and to assess the company's overall operational efficiency.
Peer comparison
Dec 31, 2023