Ufp Industries Inc (UFPI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,218,380 | 9,626,740 | 8,636,130 | 5,154,000 | 4,416,010 |
| Total assets | US$ in thousands | 4,017,800 | 3,672,070 | 3,245,270 | 2,404,890 | 1,889,480 |
| Total asset turnover | 1.80 | 2.62 | 2.66 | 2.14 | 2.34 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $7,218,380K ÷ $4,017,800K
= 1.80
The total asset turnover ratio for Ufp Industries Inc has exhibited fluctuations over the past five years. The ratio indicates how efficiently the company generates sales revenue from its total assets.
In 2023, the total asset turnover ratio was 1.80, reflecting a decrease from the previous year. This suggests that the company generated $1.80 in sales for every dollar of total assets it held during that year.
In 2022, the ratio was significantly higher at 2.62, indicating improved efficiency in asset utilization compared to 2023.
In 2021 and 2019, the total asset turnover ratios were relatively stable at 2.66 and 2.34, respectively, demonstrating consistent performance in generating sales relative to total assets.
However, in 2020, the ratio dropped to 2.14, signaling a decrease in efficiency in utilizing assets to generate sales revenue compared to the preceding years.
Overall, the trend in Ufp Industries Inc's total asset turnover ratio shows some variability over the years, with fluctuations that may suggest changes in the company's asset management or sales generation strategies. It would be essential to further investigate the reasons behind these fluctuations to assess the company's overall financial performance and efficiency in utilizing its assets effectively.