Dentsply Sirona Inc (XRAY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,887,000 | 3,908,000 | 20,000 | 3,305,000 | 4,021,100 |
| Total assets | US$ in thousands | 7,370,000 | 7,643,000 | 9,239,000 | 9,342,000 | 8,603,000 |
| Total asset turnover | 0.53 | 0.51 | 0.00 | 0.35 | 0.47 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,887,000K ÷ $7,370,000K
= 0.53
The total asset turnover ratio for DENTSPLY Sirona Inc has experienced fluctuations over the past five years. The ratio increased from 0.36 in 2020 to 0.54 in 2023, indicating that the company generated $0.54 in revenue for every dollar of assets held in 2023. This improvement suggests that the company's assets were utilized more efficiently to generate sales revenue.
While the total asset turnover ratio was relatively low in 2021 and 2019 at 0.46 and 0.47 respectively, it saw a significant improvement in 2022 and 2023. This improvement could be attributed to various factors such as better inventory management, increased sales volume, or effective utilization of assets to drive revenue growth.
Overall, the trend in DENTSPLY Sirona Inc's total asset turnover ratio indicates a positive direction in asset utilization efficiency, which is a key indicator of operational effectiveness and financial performance.
Peer comparison
Dec 31, 2023