World Kinect Corporation (WKC)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 47,710,600 | 59,043,100 | 31,337,000 | 20,358,300 | 36,819,000 |
| Total assets | US$ in thousands | 7,375,300 | 8,164,600 | 5,942,400 | 4,500,300 | 5,992,400 |
| Total asset turnover | 6.47 | 7.23 | 5.27 | 4.52 | 6.14 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $47,710,600K ÷ $7,375,300K
= 6.47
The total asset turnover ratio for World Kinect Corp has shown fluctuations over the past five years. In 2023, the total asset turnover ratio was 6.47, indicating that the company generated $6.47 in revenue for every $1 of total assets. This represented a slight decrease from the previous year's ratio of 7.23.
The trend in total asset turnover ratios from 2021 to 2023 was generally positive, with the ratio increasing each year. This suggests that World Kinect Corp became more efficient in generating revenue from its total assets during this period.
Comparing the 2023 ratio to that of 2020 and 2019, we observe an overall improvement in asset utilization efficiency. The ratio has increased significantly from 4.52 in 2020 to 6.47 in 2023, indicating that the company has been able to generate more revenue from its total assets in recent years.
Overall, the increasing trend in total asset turnover ratios for World Kinect Corp indicates a positive development in the company's efficiency in utilizing its assets to generate revenue.