Interface Inc (TILE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,225,740 | 1,263,670 | 1,170,720 | 1,074,020 | 1,317,370 |
| Total assets | US$ in thousands | 1,230,100 | 1,266,500 | 1,330,060 | 1,306,010 | 1,423,050 |
| Total asset turnover | 1.00 | 1.00 | 0.88 | 0.82 | 0.93 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,225,740K ÷ $1,230,100K
= 1.00
Interface Inc. has shown an improving trend in total asset turnover over the past five years, with the ratio increasing from 0.94 in 2019 to 1.03 in 2023. This indicates that the company generated more revenue from its total assets in 2023 compared to previous years. A total asset turnover ratio above 1 suggests that Interface Inc. is effectively utilizing its assets to generate sales. This improvement reflects positively on the company's operational efficiency and effectiveness in managing its resources to drive revenue growth.
Peer comparison
Dec 31, 2023