Vector Group Ltd (VGR)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,424,270 | 1,441,010 | 1,220,700 | 1,228,680 | 1,119,600 |
| Total assets | US$ in thousands | 934,095 | 908,591 | 871,087 | 1,343,410 | 1,505,090 |
| Total asset turnover | 1.52 | 1.59 | 1.40 | 0.91 | 0.74 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,424,270K ÷ $934,095K
= 1.52
Vector Group Ltd's total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover decreased to 1.52 from 1.59 in the previous year. This decrease indicates that the company generated $1.52 in revenue for every dollar of assets held, reflecting a slight decline in efficiency in utilizing its assets to generate sales.
When compared to 2021 and 2020, the total asset turnover in 2023 remains relatively higher, suggesting that the company improved its efficiency in asset utilization compared to these prior years. However, the total asset turnover in 2023 is lower than the peak observed in 2019, where the company achieved a total asset turnover of 1.49.
Overall, despite the slight decline in total asset turnover from the previous year, Vector Group Ltd's performance in 2023 indicates a reasonable efficiency in converting its assets into revenue, although there may be room for further improvement to match or exceed the efficiency levels seen in prior years.
Peer comparison
Dec 31, 2023