PPG Industries Inc (PPG)

Total asset turnover

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Revenue (ttm) US$ in thousands 18,119,000 17,888,000 17,733,000 17,607,000 17,552,000 17,655,000 17,643,000 17,356,000 16,913,000 16,477,000 15,717,000 14,289,000 13,791,000 13,706,000 13,844,000 14,888,000 15,131,000 15,104,000 15,103,000 15,207,000
Total assets US$ in thousands 21,647,000 21,501,000 22,216,000 22,099,000 20,744,000 20,868,000 21,572,000 21,888,000 21,351,000 21,883,000 22,353,000 20,139,000 19,556,000 18,300,000 18,170,000 18,064,000 17,708,000 18,064,000 17,955,000 17,371,000
Total asset turnover 0.84 0.83 0.80 0.80 0.85 0.85 0.82 0.79 0.79 0.75 0.70 0.71 0.71 0.75 0.76 0.82 0.85 0.84 0.84 0.88

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $18,119,000K ÷ $21,647,000K
= 0.84

Based on the historical data provided, PPG Industries, Inc.'s total asset turnover ratio has shown some fluctuation over the past eight quarters. The company's total asset turnover has ranged between 0.79 and 0.85, with an average of approximately 0.82.

A total asset turnover ratio of less than 1 indicates that PPG Industries generates less than a dollar in sales for each dollar of assets it holds. This suggests that the company may have relatively lower efficiency in utilizing its assets to generate revenue.

The stability of the ratio around the 0.80 to 0.85 range may indicate that PPG Industries has maintained a consistent level of asset utilization efficiency, with only minor variations in performance over the quarters analyzed. However, the company may aim to improve this ratio to ensure optimal asset utilization and revenue generation in the future.


Peer comparison

Dec 31, 2023

Company name
Symbol
Total asset turnover
PPG Industries Inc
PPG
0.84
Axalta Coating Systems Ltd
AXTA
0.71
RPM International Inc
RPM
1.09