Sonoco Products Company (SON)
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 | 6,825,810 | 6,976,700 | 7,162,630 | 7,381,000 | 7,401,430 | 7,143,520 | 6,683,310 | 6,138,990 | 5,719,930 | 5,619,660 | 5,509,310 | 5,390,170 | 5,348,310 | 5,297,960 | 5,341,660 | 5,458,660 | 5,502,880 | 5,562,970 | 5,575,100 | 5,598,550 |
| Total assets | US$ in thousands | 7,191,960 | 7,270,000 | 7,048,990 | 7,061,430 | 7,052,940 | 6,975,650 | 6,989,510 | 6,955,990 | 5,073,240 | 4,925,150 | 4,994,040 | 5,280,750 | 5,277,260 | 5,767,230 | 5,738,860 | 5,012,140 | 5,126,290 | 4,986,180 | 4,945,560 | 4,941,500 |
| Total asset turnover | 0.95 | 0.96 | 1.02 | 1.05 | 1.05 | 1.02 | 0.96 | 0.88 | 1.13 | 1.14 | 1.10 | 1.02 | 1.01 | 0.92 | 0.93 | 1.09 | 1.07 | 1.12 | 1.13 | 1.13 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,825,810K ÷ $7,191,960K
= 0.95
Total asset turnover measures how efficiently a company is utilizing its assets to generate sales. Sonoco Products Co.'s total asset turnover has shown some fluctuations over the past eight quarters. It ranged from a low of 0.86 in Q1 2022 to a high of 1.03 in Q4 2022. In the most recent quarter, Q4 2023, the total asset turnover was 0.94, the same as in Q3 2023.
Overall, the trend indicates that Sonoco Products Co. has been able to generate sales relative to its total assets at a fairly consistent rate, with some slight variations. It is important to further analyze the company's operations and financial performance to understand the factors contributing to these fluctuations in total asset turnover.
Peer comparison
Dec 31, 2023