United States Steel Corporation (X)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 18,053,000 | 21,065,000 | 20,275,000 | 9,741,000 | 12,937,000 |
| Total assets | US$ in thousands | 20,451,000 | 19,458,000 | 17,816,000 | 12,059,000 | 11,608,000 |
| Total asset turnover | 0.88 | 1.08 | 1.14 | 0.81 | 1.11 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $18,053,000K ÷ $20,451,000K
= 0.88
The total asset turnover ratio for United States Steel Corp. has exhibited fluctuating trends over the past five years. In 2023, the ratio decreased to 0.88 from 1.08 in 2022. This decline indicates that the company generated $0.88 in revenue for every dollar of total assets in 2023.
Compared to the peak ratio of 1.14 in 2021, the declining trend in asset turnover suggests a less efficient utilization of assets to generate sales. The ratio was notably lower in 2020 at 0.81, indicating a potential challenge in effectively deploying assets to drive revenue.
The 2019 figure of 1.11 suggests that in that year, the company was more efficient in utilizing its assets to generate revenue compared to the latest year, 2023. This analysis underscores the importance of monitoring changes in asset turnover as it provides insights into the company's efficiency in asset management and generating revenue.
Peer comparison
Dec 31, 2023