Tootsie Roll Industries Inc (TR)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 766,225 | 759,321 | 723,875 | 708,415 | 688,173 | 666,465 | 637,169 | 608,787 | 571,396 | 406,735 | 380,224 | 345,350 | 345,389 | 345,244 | 369,369 | 394,892 | 392,371 | 518,821 | 518,400 | 518,257 |
| Total assets | US$ in thousands | 1,084,390 | 1,065,910 | 1,033,990 | 1,019,610 | 1,018,780 | 1,026,360 | 1,001,110 | 1,012,850 | 1,018,620 | 1,015,440 | 994,958 | 978,991 | 984,558 | 982,035 | 974,501 | 955,927 | 977,864 | 982,092 | 948,524 | 940,504 |
| Total asset turnover | 0.71 | 0.71 | 0.70 | 0.69 | 0.68 | 0.65 | 0.64 | 0.60 | 0.56 | 0.40 | 0.38 | 0.35 | 0.35 | 0.35 | 0.38 | 0.41 | 0.40 | 0.53 | 0.55 | 0.55 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $766,225K ÷ $1,084,390K
= 0.71
Tootsie Roll Industries, Inc.'s total asset turnover has demonstrated a consistent performance over the past eight quarters. The company's total asset turnover ratio has been gradually increasing from 0.60 in Q1 2022 to 0.71 in Q4 2023. This ratio indicates how efficiently the company is generating sales relative to its total assets. The increase in total asset turnover suggests that Tootsie Roll Industries has been utilizing its assets more efficiently to generate revenue over time. This improvement indicates that the company is managing its assets effectively, which is a positive sign for its financial health and operational efficiency.
Peer comparison
Dec 31, 2023