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.