Titan International Inc (TWI)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,845,937 | 1,852,563 | 1,806,359 | 1,755,365 | 1,821,800 | 1,941,367 | 2,070,308 | 2,162,027 | 2,169,380 | 2,147,290 | 2,066,950 | 1,932,694 | 1,780,215 | 1,619,447 | 1,473,837 | 1,321,331 | 1,259,313 | 1,234,195 | 1,275,328 | 1,379,792 |
| Total assets | US$ in thousands | 1,584,950 | 1,686,720 | 1,734,070 | 1,813,600 | 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 |
| Total asset turnover | 1.16 | 1.10 | 1.04 | 0.97 | 1.41 | 1.54 | 1.59 | 1.61 | 1.69 | 1.72 | 1.60 | 1.52 | 1.51 | 1.42 | 1.31 | 1.23 | 1.22 | 1.21 | 1.24 | 1.30 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,845,937K ÷ $1,584,950K
= 1.16
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales from its assets. Titan International Inc's total asset turnover has shown fluctuations over the period from March 31, 2020, to December 31, 2024.
From March 2020 to June 2022, the total asset turnover consistently increased from 1.30 to 1.60, indicating that the company was generating more sales relative to its total assets. This suggests improved efficiency in asset utilization during this period.
However, starting from March 2023, there was a decline in the total asset turnover, falling to as low as 0.97 by March 31, 2024. This decrease indicates a potential decline in the company's ability to generate sales from its assets efficiently. It could be due to various factors such as decreasing sales, inefficient asset management, or an increase in total assets without corresponding sales growth.
By December 31, 2024, the total asset turnover had recovered slightly to 1.16, but it remained lower compared to the peak in June 2022. The company may need to focus on improving its asset utilization and sales generation to enhance its overall efficiency and profitability in the future.
Peer comparison
Dec 31, 2024