Resideo Technologies Inc (REZI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,177,000 | 6,308,000 | 5,786,000 | 10,080,000 | 9,917,000 |
| Total assets | US$ in thousands | 6,645,000 | 6,387,000 | 5,853,000 | 5,610,000 | 5,128,000 |
| Total asset turnover | 0.93 | 0.99 | 0.99 | 1.80 | 1.93 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,177,000K ÷ $6,645,000K
= 0.93
The total asset turnover of Resideo Technologies Inc has shown fluctuations over the past five years. It stood at 0.94 in 2023, indicating that the company generated $0.94 in revenue for every dollar of assets in that year. This represents a slight decrease compared to the previous year when the total asset turnover was 1.00.
In 2021 and 2022, the total asset turnover remained stable at 1.00, suggesting that the company effectively utilized its assets to generate revenue during those years. However, there was a slight decline in 2020 when the total asset turnover dropped to 0.90, implying a decrease in the efficiency of asset utilization to generate revenue compared to the previous year.
Overall, the trend in total asset turnover for Resideo Technologies Inc indicates some variability in asset utilization efficiency over the past five years, with fluctuations observed in its ability to generate revenue relative to its total assets. Further analysis and comparison with industry peers may provide additional insights into the company's operational performance and efficiency.