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