Tesla Inc (TSLA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 96,773,000 | 81,462,000 | 53,823,000 | 31,536,000 | 24,578,000 |
| Total assets | US$ in thousands | 106,618,000 | 82,338,000 | 62,131,000 | 52,148,000 | 34,309,000 |
| Total asset turnover | 0.91 | 0.99 | 0.87 | 0.60 | 0.72 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $96,773,000K ÷ $106,618,000K
= 0.91
The total asset turnover ratio measures the efficiency with which Tesla Inc generates sales revenue from its total assets. A higher ratio indicates better asset utilization.
From the data provided, it is observed that Tesla's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover ratio was 0.89, slightly lower than the previous year's ratio of 0.97. This indicates that Tesla generated $0.89 for every dollar of total assets in 2023, as opposed to $0.97 in 2022.
The decrease in the total asset turnover ratio from 2022 to 2023 suggests a potential decrease in efficiency in generating sales from its total asset base. However, it is important to note that a single year's data may not fully capture the overall trend, and further analysis and context would be needed to fully understand the implications of this change.
Peer comparison
Dec 31, 2023