Sensient Technologies Corporation (SXT)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,430,740	1,422,220	1,367,390	1,317,440	1,303,950
Total assets	US$ in thousands	2,014,510	1,981,610	1,745,490	1,740,860	1,740,150
Total asset turnover		0.71	0.72	0.78	0.76	0.75

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,430,740K ÷ $2,014,510K
= 0.71

Sensient Technologies Corp.'s total asset turnover has shown a slight decline over the past five years, decreasing from 0.76 in 2019 to 0.72 in 2023. This ratio indicates that the company generated $0.72 in revenue for every dollar of total assets in 2023. While the trend has not been consistently increasing, it is important to note that the company is efficiently utilizing its assets to generate sales. A lower total asset turnover may suggest that there is room for improvement in optimizing asset utilization to drive revenue growth. Further analysis of the company's operations and strategies should be conducted to identify opportunities for enhancing asset turnover and overall performance.