PPG Industries Inc (PPG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 18,119,000 | 17,539,000 | 16,913,000 | 13,780,000 | 15,135,000 |
| Total assets | US$ in thousands | 21,647,000 | 20,744,000 | 21,351,000 | 19,556,000 | 17,708,000 |
| Total asset turnover | 0.84 | 0.85 | 0.79 | 0.70 | 0.85 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $18,119,000K ÷ $21,647,000K
= 0.84
The total asset turnover ratio for PPG Industries, Inc. has fluctuated over the past five years, ranging from 0.71 in 2020 to 0.86 in 2019. In 2023, the total asset turnover ratio decreased to 0.84 from 0.85 in 2022. This indicates that, on average, PPG Industries generated $0.84 in sales for every dollar of assets held during the year. A higher total asset turnover ratio generally signifies efficient utilization of assets to generate sales revenue. However, the fluctuations in PPG Industries' total asset turnover ratio suggest varying levels of asset utilization efficiency over the years. Further investigation into the company's operational performance and asset management strategies may be needed to fully understand the reasons behind these fluctuations and to assess the company's overall financial health.
Peer comparison
Dec 31, 2023