Total Asset Turnover
since 2005
Calculation
Air Products & Chemicals Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Sep 30, 2020 | 0.35 | = | 8,856,300) | ÷ | 25,168,500) |
| Sep 30, 2019 | 0.47 | = | 8,918,900) | ÷ | 18,942,800) |
| Sep 30, 2018 | 0.47 | = | 8,930,200) | ÷ | 19,178,300) |
| Sep 30, 2017 | 0.44 | = | 8,187,600) | ÷ | 18,467,200) |
| Sep 30, 2016 | 0.53 | = | 9,524,400) | ÷ | 18,055,300) |
| Sep 30, 2015 | 0.57 | = | 9,894,900) | ÷ | 17,438,100) |
| Sep 30, 2014 | 0.59 | = | 10,439,000) | ÷ | 17,779,100) |
| Sep 30, 2013 | 0.57 | = | 10,180,400) | ÷ | 17,850,100) |
| Sep 30, 2012 | 0.57 | = | 9,611,700) | ÷ | 16,941,800) |
| Sep 30, 2011 | 0.71 | = | 10,082,000) | ÷ | 14,290,700) |
| Sep 30, 2010 | 0.67 | = | 9,026,000) | ÷ | 13,505,900) |
| Sep 30, 2009 | 0.63 | = | 8,256,200) | ÷ | 13,029,100) |
| Sep 30, 2008 | 0.83 | = | 10,414,500) | ÷ | 12,571,300) |
| Sep 30, 2007 | 0.79 | = | 10,037,800) | ÷ | 12,659,500) |
| Sep 30, 2006 | 0.79 | = | 8,850,400) | ÷ | 11,180,700) |
| Sep 30, 2005 | 0.78 | = | 8,143,500) | ÷ | 10,408,800) |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$ in thousands
- Sales
- Sales exhibited an overall increasing trend from 2005 through 2008, reaching a peak around 10.4 billion US dollars. However, in 2009, a significant decline occurred, with sales dropping to approximately 8.26 billion. Following this drop, sales recovered gradually, fluctuating around 9 to 10 billion until 2014. From 2015 onwards, a downward trajectory is noted, falling below 9 billion by 2017 and maintaining a relatively stable level near 8.9 billion through 2020.
- Total Assets
- Total assets showed a consistent upward trend over the entire period. Starting at approximately 10.4 billion in 2005, total assets increased steadily each year with notable growth in 2012, reaching above 16.9 billion and continuing to rise steadily beyond 19 billion by 2018 and 2019. A marked increase is evident in 2020, with total assets surging to 25.2 billion, indicating significant asset accumulation in the latest year observed.
- Total Asset Turnover Ratio
- The total asset turnover ratio fluctuated from 0.78 in 2005 mostly within the 0.7 to 0.8 range until 2008, indicating efficient use of assets to generate sales. In 2009, there was a sharp decline to 0.63, followed by a moderate recovery peaking near 0.71 in 2011. After 2011, a consistent declining trend is observed, with the ratio decreasing steadily from 0.57 in 2012 to 0.35 in 2020. This suggests a diminishing efficiency in utilizing assets to generate sales over the latter years.
- Summary and Insights
- Overall, the firm experienced growth in sales and assets early in the period, with a notable disruption around 2009 coinciding with the global financial crisis, reflected in a sharp sales decline and lower asset turnover efficiency. While total assets have grown substantially, particularly highlighted by the surge in 2020, sales have not shown corresponding growth in that period. The declining asset turnover ratio indicates that the company’s ability to convert assets into revenue has weakened, possibly pointing to overinvestment or lower operational efficiency in recent years. This divergence between asset growth and sales performance warrants further investigation into asset utilization strategies and sales drivers.
Comparison to Competitors
Air Products & Chemicals Inc., total asset turnover, long-term trends, comparison to competitors
| Air Products & Chemicals Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Sep 30, 2020 | 0.35 | 0.31 | 0.90 |
| Sep 30, 2019 | 0.47 | 0.33 | 0.87 |
| Sep 30, 2018 | 0.47 | 0.16 | 0.92 |
| Sep 30, 2017 | 0.44 | 0.56 | 0.75 |
| Sep 30, 2016 | 0.53 | 0.54 | 1.76 |
| Sep 30, 2015 | 0.57 | 0.59 | 1.96 |
| Sep 30, 2014 | 0.59 | 0.62 | 1.95 |
| Sep 30, 2013 | 0.57 | 0.59 | 1.60 |
| Sep 30, 2012 | 0.57 | 0.62 | 1.53 |
| Sep 30, 2011 | 0.71 | 0.69 | 1.68 |
| Sep 30, 2010 | 0.67 | 0.66 | 1.50 |
| Sep 30, 2009 | 0.63 | 0.63 | 1.64 |
| Sep 30, 2008 | 0.83 | 0.83 | 1.81 |
| Sep 30, 2007 | 0.79 | 0.70 | 1.65 |
| Sep 30, 2006 | 0.79 | 0.75 | 1.56 |
| Sep 30, 2005 | 0.78 | 0.73 | 1.65 |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Chemicals)
Air Products & Chemicals Inc., total asset turnover, long-term trends, comparison to sector (chemicals)
| Air Products & Chemicals Inc. | Chemicals | |
|---|---|---|
| Sep 30, 2020 | 0.35 | 0.42 |
| Sep 30, 2019 | 0.47 | 0.43 |
| Sep 30, 2018 | 0.47 | 0.29 |
| Sep 30, 2017 | 0.44 | 0.65 |
| Sep 30, 2016 | 0.53 | 0.86 |
| Sep 30, 2015 | 0.57 | 0.92 |
| Sep 30, 2014 | 0.59 | 0.92 |
| Sep 30, 2013 | 0.57 | 0.83 |
| Sep 30, 2012 | 0.57 | 0.85 |
| Sep 30, 2011 | 0.71 | 0.93 |
| Sep 30, 2010 | 0.67 | 0.88 |
| Sep 30, 2009 | 0.63 | 0.86 |
| Sep 30, 2008 | 0.83 | 1.07 |
| Sep 30, 2007 | 0.79 | 0.95 |
| Sep 30, 2006 | 0.79 | 1.00 |
| Sep 30, 2005 | 0.78 | 1.00 |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Materials)
Air Products & Chemicals Inc., total asset turnover, long-term trends, comparison to industry (materials)
| Air Products & Chemicals Inc. | Materials | |
|---|---|---|
| Sep 30, 2020 | 0.35 | 0.40 |
| Sep 30, 2019 | 0.47 | 0.41 |
| Sep 30, 2018 | 0.47 | 0.33 |
| Sep 30, 2017 | 0.44 | 0.55 |
| Sep 30, 2016 | 0.53 | 0.59 |
| Sep 30, 2015 | 0.57 | 0.54 |
| Sep 30, 2014 | 0.59 | 0.53 |
| Sep 30, 2013 | 0.57 | 0.48 |
| Sep 30, 2012 | 0.57 | 0.65 |
| Sep 30, 2011 | 0.71 | 0.76 |
| Sep 30, 2010 | 0.67 | 0.74 |
| Sep 30, 2009 | 0.63 | 0.70 |
| Sep 30, 2008 | 0.83 | 0.90 |
| Sep 30, 2007 | 0.79 | 0.58 |
| Sep 30, 2006 | 0.79 | 1.02 |
| Sep 30, 2005 | 0.78 | 0.93 |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).