Texas Instruments Incorporated (TXN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 17,508,000 | 20,028,000 | 18,344,000 | 14,461,000 | 14,383,000 |
| Total assets | US$ in thousands | 32,348,000 | 27,207,000 | 24,676,000 | 19,351,000 | 18,018,000 |
| Total asset turnover | 0.54 | 0.74 | 0.74 | 0.75 | 0.80 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $17,508,000K ÷ $32,348,000K
= 0.54
The total asset turnover ratio for Texas Instruments Inc. has exhibited a declining trend over the past five years, dropping from 0.80 in 2019 to 0.54 in 2023. This indicates that the company generated less revenue for each dollar of total assets in 2023 compared to previous years. A lower total asset turnover ratio could suggest inefficiencies in asset utilization, potentially due to underperforming assets or decreased revenue generation. It is imperative for the company to closely monitor and address the factors contributing to this decline to improve operational efficiency and overall financial performance.
Peer comparison
Dec 31, 2023