Gentherm Inc (THRM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,447,650 | 1,192,770 | 1,044,070 | 902,575 | 968,913 |
| Total assets | US$ in thousands | 1,234,370 | 1,239,300 | 935,343 | 1,022,840 | 738,832 |
| Total asset turnover | 1.17 | 0.96 | 1.12 | 0.88 | 1.31 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,447,650K ÷ $1,234,370K
= 1.17
Gentherm Inc's total asset turnover has displayed fluctuations over the past five years. The ratio indicates the company's ability to generate sales revenue in relation to its total assets. In 2023, the total asset turnover improved to 1.19 from 0.97 in 2022, reflecting an increase in sales generated per dollar of assets. This suggests that the company is utilizing its assets more efficiently to drive revenue. However, it is worth noting that the ratio has not been consistently increasing over the years. In 2021, there was a slight decrease from the previous year, but overall the ratio has shown an upward trend since 2020. This could indicate improvements in the company's operational efficiency and asset utilization. In 2019, Gentherm Inc recorded the highest total asset turnover of 1.34, indicating a strong ability to generate sales relative to its assets. Overall, the company's total asset turnover has shown variability, but the recent improvement in 2023 suggests an increasing efficiency in utilizing its assets to drive sales.
Peer comparison
Dec 31, 2023