Trinity Industries Inc (TRN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,983,300 | 1,977,300 | 1,516,000 | 1,749,700 | 2,752,400 |
| Total assets | US$ in thousands | 8,906,500 | 8,724,300 | 8,235,900 | 8,701,800 | 8,701,400 |
| Total asset turnover | 0.33 | 0.23 | 0.18 | 0.20 | 0.32 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,983,300K ÷ $8,906,500K
= 0.33
Trinity Industries, Inc.'s total asset turnover ratio has fluctuated over the past five years. The ratio measures the efficiency of the company in generating revenue from its total assets. In 2023, the total asset turnover improved to 0.33 from 0.23 in 2022. This suggests that Trinity Industries generated $0.33 in revenue for every dollar of assets held in 2023.
Comparing this to previous years, we see a significant increase from 0.18 in 2021 and a slight improvement from 0.23 in 2020. The ratio was highest in 2019 at 0.35. The increase in 2023 indicates that the company was able to utilize its assets more effectively to generate sales compared to the previous year. This could be attributed to improved operational efficiency, better inventory management, or increased sales volume.
Overall, Trinity Industries, Inc.'s total asset turnover has shown variability over the years, but the latest improvement in 2023 suggests a positive trend in the company's ability to generate revenue from its asset base.
Peer comparison
Dec 31, 2023