TE Connectivity Ltd (TEL)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 15,954,000 | 16,215,000 | 14,867,000 | 12,124,000 | 13,380,000 |
| Total assets | US$ in thousands | 21,712,000 | 20,782,000 | 21,462,000 | 19,242,000 | 19,694,000 |
| Total asset turnover | 0.73 | 0.78 | 0.69 | 0.63 | 0.68 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $15,954,000K ÷ $21,712,000K
= 0.73
TE Connectivity Ltd's total asset turnover ratio has fluctuated over the past five years. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher total asset turnover ratio is generally preferred as it suggests that the company is generating more revenue per dollar of assets.
In 2023, the total asset turnover ratio decreased to 0.73 from 0.78 in 2022, indicating a slight decrease in the efficiency of asset utilization. However, the ratio is still relatively stable compared to previous years.
In 2021, there was a slight improvement in the total asset turnover ratio to 0.69 from 0.63 in 2020, suggesting a more efficient use of assets to generate revenue.
Overall, TE Connectivity Ltd's total asset turnover ratio has shown some fluctuations but has generally remained in the range of 0.63 to 0.78 over the past five years. Further analysis of the company's operations and industry benchmarks may provide more insights into the reasons behind these fluctuations and how they compare to its peers.
Peer comparison
Sep 30, 2023