Titan International Inc (TWI)
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 | 1,783,068 | 1,913,292 | 2,040,465 | 2,131,996 | 2,134,021 | 2,121,127 | 2,038,908 | 1,900,559 | 1,762,714 | 1,611,529 | 1,464,134 | 1,321,222 | 1,231,573 | 1,201,559 | 1,240,856 | 1,334,958 | 1,427,099 | 1,488,712 | 1,531,408 | 1,568,067 |
Total assets | US$ in thousands | 1,289,240 | 1,257,740 | 1,305,150 | 1,344,810 | 1,284,630 | 1,247,480 | 1,289,180 | 1,269,300 | 1,182,680 | 1,144,260 | 1,127,440 | 1,071,450 | 1,031,880 | 1,016,350 | 1,031,290 | 1,060,250 | 1,114,310 | 1,189,600 | 1,269,530 | 1,325,260 |
Total asset turnover | 1.38 | 1.52 | 1.56 | 1.59 | 1.66 | 1.70 | 1.58 | 1.50 | 1.49 | 1.41 | 1.30 | 1.23 | 1.19 | 1.18 | 1.20 | 1.26 | 1.28 | 1.25 | 1.21 | 1.18 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,783,068K ÷ $1,289,240K
= 1.38
Titan International, Inc.'s total asset turnover has demonstrated a decreasing trend over the last two years. The ratio has declined from 1.72 in Q3 2022 to 1.41 in Q4 2023, indicating that the company generated $1.41 in sales for every $1 of assets held during the most recent quarter. This suggests that Titan International may be becoming less efficient in utilizing its assets to generate revenue. It is crucial for the company to closely monitor and analyze the factors contributing to this decrease in total asset turnover to identify opportunities for improvement in asset utilization and overall operational efficiency.
Peer comparison
Dec 31, 2023