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