Snap-On Inc (SNA)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,108,400 | 5,108,300 | 4,842,500 | 4,601,700 | 3,942,200 |
| Total assets | US$ in thousands | 7,896,800 | 7,544,900 | 6,972,800 | 6,759,700 | 6,557,300 |
| Total asset turnover | 0.65 | 0.68 | 0.69 | 0.68 | 0.60 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,108,400K ÷ $7,896,800K
= 0.65
Total asset turnover is a key financial ratio that measures a company's ability to generate sales revenue from its total assets. In the case of Snap-On Inc, the trend in total asset turnover has been increasing over the past five years, from 0.60 in December 31, 2020, to 0.65 in December 31, 2024.
This indicates that Snap-On has been more efficient in utilizing its assets to generate sales over the years. A total asset turnover of 0.65 means that for every dollar of assets Snap-On has, it generates $0.65 in sales.
Overall, the improving trend in total asset turnover suggests that Snap-On Inc has been able to increase its sales relative to its asset base, which is a positive sign of operational efficiency and effective management of resources. However, it is essential to consider other factors in conjunction with this ratio to get a comprehensive view of the company's financial performance.
Peer comparison
Dec 31, 2024