Stryker Corporation (SYK)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	20,498,000	18,449,000	17,108,000	14,351,000	14,884,000
Total assets	US$ in thousands	39,912,000	36,884,000	34,631,000	34,330,000	30,167,000
Total asset turnover		0.51	0.50	0.49	0.42	0.49

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $20,498,000K ÷ $39,912,000K
= 0.51

The total asset turnover ratio for Stryker Corp. has shown a steady improvement over the past five years. From a low of 0.42 in 2020, the ratio has gradually increased to 0.51 in 2023. This indicates that the company is generating more revenue for each dollar of assets owned. The trend suggests that Stryker is becoming more efficient in utilizing its assets to generate sales. An increasing total asset turnover ratio can be a positive sign of operational efficiency and effective asset management within the company.