Teledyne Technologies Incorporated (TDY)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	5,559,800	5,379,900	4,510,100	3,094,300	3,171,900
Total assets	US$ in thousands	14,527,900	14,354,000	14,430,300	5,084,800	4,579,800
Total asset turnover		0.38	0.37	0.31	0.61	0.69

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $5,559,800K ÷ $14,527,900K
= 0.38

The total asset turnover ratio for Teledyne Technologies Inc has displayed fluctuations over the past five years. The ratio indicates how efficiently the company is generating revenue from its total assets.

The ratio was 0.39 in 2023, slightly higher than the previous year's value of 0.38. This suggests that Teledyne generated $0.39 in revenue for every dollar of total assets in 2023, a marginal improvement from 2022.

In 2022, the total asset turnover ratio was 0.32, indicating a decrease in efficiency compared to the previous year. This means that the company generated only $0.32 in revenue for every dollar of total assets in 2022.

The ratio significantly improved in 2021, standing at 0.61, which indicates a substantial increase in efficiency in generating revenue from total assets compared to the previous years.

In 2019, the total asset turnover ratio was relatively high at 0.69, indicating that the company was able to generate $0.69 in revenue for every dollar of total assets, reflecting a strong operational performance.

Overall, the total asset turnover ratio for Teledyne Technologies Inc has varied over the years, with fluctuations that suggest changes in the company's ability to efficiently utilize its assets to generate revenue. Careful analysis of the underlying factors driving these fluctuations would provide valuable insights into the company's operational efficiency and financial performance.