Total Asset Turnover
since 2005
Calculation
CSX Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.35 | = | 14,853) | ÷ | 41,912) |
| Dec 31, 2021 | 0.31 | = | 12,522) | ÷ | 40,531) |
| Dec 31, 2020 | 0.27 | = | 10,583) | ÷ | 39,793) |
| Dec 31, 2019 | 0.31 | = | 11,937) | ÷ | 38,257) |
| Dec 31, 2018 | 0.33 | = | 12,250) | ÷ | 36,729) |
| Dec 31, 2017 | 0.32 | = | 11,408) | ÷ | 35,739) |
| Dec 30, 2016 | 0.31 | = | 11,069) | ÷ | 35,414) |
| Dec 25, 2015 | 0.34 | = | 11,811) | ÷ | 35,039) |
| Dec 26, 2014 | 0.38 | = | 12,669) | ÷ | 33,053) |
| Dec 27, 2013 | 0.38 | = | 12,026) | ÷ | 31,782) |
| Dec 28, 2012 | 0.38 | = | 11,756) | ÷ | 30,571) |
| Dec 30, 2011 | 0.40 | = | 11,743) | ÷ | 29,473) |
| Dec 31, 2010 | 0.38 | = | 10,636) | ÷ | 28,141) |
| Dec 25, 2009 | 0.33 | = | 9,041) | ÷ | 27,036) |
| Dec 26, 2008 | 0.43 | = | 11,255) | ÷ | 26,288) |
| Dec 28, 2007 | 0.39 | = | 10,030) | ÷ | 25,534) |
| Dec 29, 2006 | 0.38 | = | 9,566) | ÷ | 25,129) |
| Dec 30, 2005 | 0.36 | = | 8,618) | ÷ | 24,232) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).
1 US$ in millions
The analysis of the financial data over the observed period indicates several noticeable trends in revenue, total assets, and total asset turnover ratios.
- Revenue
- There is a general upward trend in revenue from 2005 through 2013, increasing from $8,618 million to a peak of $12,669 million in 2014. However, this peak is followed by a decline over the next two years, reaching $11,069 million in 2016. Revenue then experiences some recovery, fluctuating moderately around the $11 billion to $12 billion range through 2019. Notably, there is a significant drop in 2020 to $10,583 million, likely reflecting external market challenges. Recovery is apparent in 2021 and 2022, with revenue rising to $12,522 million and $14,853 million respectively, representing the highest recorded value in the period analyzed.
- Total Assets
- Total assets consistently increase across the entire period examined, demonstrating steady growth from $24,232 million in 2005 to $41,912 million in 2022. This represents a near doubling of asset base over 17 years. The growth appears gradual and continuous without any marked declines, indicating ongoing investment or asset accumulation by the company throughout the period.
- Total Asset Turnover Ratio
- The total asset turnover ratio exhibits variability, generally ranging between 0.31 and 0.43 throughout the years. The highest ratio is observed in 2008 at 0.43, suggesting that year was the most efficient in utilizing assets to generate revenue. After 2008, the ratio trends downward overall, bottoming out at 0.27 in 2020, coinciding with the revenue decline mentioned earlier. From 2020 onwards, the ratio shows signs of improvement, increasing to 0.31 in 2021 and further to 0.35 in 2022. This trend suggests enhanced asset utilization efficiency following the downturn. Despite fluctuations, the overall pattern points to a decreasing efficiency in asset use relative to the growth in total asset value until recent years, when operational efficiency seems to improve.
In summary, the data reflects steady asset growth accompanied by fluctuating revenue and asset turnover efficiency. Periods of decreased revenue and turnover ratio, particularly around 2015–2016 and 2020, are followed by recoveries, indicating a capacity to rebound from adverse conditions. The overall increase in total assets without proportionate increases in turnover ratio until recently may suggest expanded capital investment with varying impact on revenue generation efficiency.
Comparison to Competitors
CSX Corp., total asset turnover, long-term trends, comparison to competitors
| CSX Corp. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 0.35 | 1.09 | 0.99 | 0.38 | 0.67 | 1.41 |
| Dec 31, 2021 | 0.31 | 1.01 | 0.45 | 0.34 | 0.36 | 1.40 |
| Dec 31, 2020 | 0.27 | 0.94 | 0.33 | 0.31 | 0.26 | 1.36 |
| Dec 31, 2019 | 0.31 | 1.28 | 0.45 | 0.35 | 0.82 | 1.28 |
| Dec 31, 2018 | 0.33 | 1.25 | — | 0.39 | 0.92 | 1.44 |
| Dec 31, 2017 | 0.32 | 1.24 | — | 0.37 | 0.89 | 1.45 |
| Dec 30, 2016 | 0.31 | 1.09 | — | 0.36 | 0.91 | 1.51 |
| Dec 25, 2015 | 0.34 | 1.28 | — | 0.40 | 0.93 | 1.52 |
| Dec 26, 2014 | 0.38 | 1.38 | — | 0.46 | 1.04 | 1.64 |
| Dec 27, 2013 | 0.38 | 1.32 | — | 0.44 | 1.04 | 1.53 |
| Dec 28, 2012 | 0.38 | 1.43 | — | 0.44 | 0.99 | 1.39 |
| Dec 30, 2011 | 0.40 | 1.44 | — | 0.43 | 0.98 | 1.53 |
| Dec 31, 2010 | 0.38 | 1.39 | — | 0.39 | 0.59 | 1.47 |
| Dec 25, 2009 | 0.33 | 1.46 | — | 0.33 | 0.87 | 1.42 |
| Dec 26, 2008 | 0.43 | 1.48 | — | 0.45 | 1.04 | 1.62 |
| Dec 28, 2007 | 0.39 | 1.47 | — | 0.43 | 0.83 | 1.27 |
| Dec 29, 2006 | 0.38 | 1.42 | — | 0.43 | 0.76 | 1.43 |
| Dec 30, 2005 | 0.36 | 1.44 | — | 0.38 | 0.90 | 1.21 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).
Comparison to Sector (Transportation)
CSX Corp., total asset turnover, long-term trends, comparison to sector (transportation)
| CSX Corp. | Transportation | |
|---|---|---|
| Dec 31, 2022 | 0.35 | 0.92 |
| Dec 31, 2021 | 0.31 | 0.76 |
| Dec 31, 2020 | 0.27 | 0.69 |
| Dec 31, 2019 | 0.31 | 0.86 |
| Dec 31, 2018 | 0.33 | 0.98 |
| Dec 31, 2017 | 0.32 | 0.95 |
| Dec 30, 2016 | 0.31 | 0.92 |
| Dec 25, 2015 | 0.34 | 0.97 |
| Dec 26, 2014 | 0.38 | 1.05 |
| Dec 27, 2013 | 0.38 | 1.02 |
| Dec 28, 2012 | 0.38 | 1.01 |
| Dec 30, 2011 | 0.40 | 1.03 |
| Dec 31, 2010 | 0.38 | 0.88 |
| Dec 25, 2009 | 0.33 | 0.95 |
| Dec 26, 2008 | 0.43 | 1.09 |
| Dec 28, 2007 | 0.39 | 0.97 |
| Dec 29, 2006 | 0.38 | 0.97 |
| Dec 30, 2005 | 0.36 | 0.93 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).
Comparison to Industry (Industrials)
CSX Corp., total asset turnover, long-term trends, comparison to industry (industrials)
| CSX Corp. | Industrials | |
|---|---|---|
| Dec 31, 2022 | 0.35 | 0.66 |
| Dec 31, 2021 | 0.31 | 0.58 |
| Dec 31, 2020 | 0.27 | 0.50 |
| Dec 31, 2019 | 0.31 | 0.62 |
| Dec 31, 2018 | 0.33 | 0.67 |
| Dec 31, 2017 | 0.32 | 0.62 |
| Dec 30, 2016 | 0.31 | 0.61 |
| Dec 25, 2015 | 0.34 | 0.54 |
| Dec 26, 2014 | 0.38 | 0.49 |
| Dec 27, 2013 | 0.38 | 0.47 |
| Dec 28, 2012 | 0.38 | 0.46 |
| Dec 30, 2011 | 0.40 | 0.45 |
| Dec 31, 2010 | 0.38 | 0.41 |
| Dec 25, 2009 | 0.33 | 0.39 |
| Dec 26, 2008 | 0.43 | 0.43 |
| Dec 28, 2007 | 0.39 | 0.41 |
| Dec 29, 2006 | 0.38 | 0.43 |
| Dec 30, 2005 | 0.36 | 0.40 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).