Total Asset Turnover
since 2005
Calculation
Albemarle Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.47 | = | 7,320,104) | ÷ | 15,456,522) |
| Dec 31, 2021 | 0.30 | = | 3,327,957) | ÷ | 10,974,118) |
| Dec 31, 2020 | 0.30 | = | 3,128,909) | ÷ | 10,450,946) |
| Dec 31, 2019 | 0.36 | = | 3,589,427) | ÷ | 9,860,863) |
| Dec 31, 2018 | 0.45 | = | 3,374,950) | ÷ | 7,581,674) |
| Dec 31, 2017 | 0.40 | = | 3,071,976) | ÷ | 7,750,772) |
| Dec 31, 2016 | 0.33 | = | 2,677,203) | ÷ | 8,161,207) |
| Dec 31, 2015 | 0.38 | = | 3,651,335) | ÷ | 9,615,014) |
| Dec 31, 2014 | 0.47 | = | 2,445,548) | ÷ | 5,223,103) |
| Dec 31, 2013 | 0.73 | = | 2,616,416) | ÷ | 3,584,797) |
| Dec 31, 2012 | 0.80 | = | 2,745,420) | ÷ | 3,437,291) |
| Dec 31, 2011 | 0.90 | = | 2,869,005) | ÷ | 3,203,824) |
| Dec 31, 2010 | 0.77 | = | 2,362,764) | ÷ | 3,068,081) |
| Dec 31, 2009 | 0.72 | = | 2,005,394) | ÷ | 2,771,557) |
| Dec 31, 2008 | 0.86 | = | 2,467,115) | ÷ | 2,872,717) |
| Dec 31, 2007 | 0.83 | = | 2,336,187) | ÷ | 2,830,450) |
| Dec 31, 2006 | 0.94 | = | 2,368,506) | ÷ | 2,530,368) |
| Dec 31, 2005 | 0.83 | = | 2,107,499) | ÷ | 2,547,243) |
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: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The analysis of total asset turnover from 2005 to 2022 reveals a distinct shift in asset efficiency, characterized by an initial period of relative stability followed by a significant decline and a recent partial recovery.
- Asset Efficiency 2005–2013
- During this interval, the total asset turnover remained relatively robust, fluctuating between a low of 0.72 and a high of 0.94. Net sales and total assets grew at comparable rates, indicating a consistent ability to generate revenue from the existing asset base.
- Period of Decline 2014–2021
- A marked downward trend is observed beginning in 2014. Total assets expanded rapidly, increasing from approximately $3.58 billion in 2013 to over $9.6 billion by 2015. Because net sales did not increase at a commensurate rate during this period, the total asset turnover ratio declined sharply, eventually reaching a floor of 0.30 in 2020 and 2021. This trajectory suggests a period where capital investment and asset acquisition significantly outpaced revenue growth.
- Performance Recovery in 2022
- In 2022, a substantial increase in net sales to $7.32 billion led to a rebound in the total asset turnover ratio to 0.47. While total assets also increased to $15.46 billion, the magnitude of the revenue growth was sufficient to reverse the multi-year decline in asset utilization efficiency.
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Comparison to Competitors
Albemarle Corp., total asset turnover, long-term trends, comparison to competitors
| Albemarle Corp. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Dec 31, 2022 | 0.47 | 0.42 | 0.98 |
| Dec 31, 2021 | 0.30 | 0.38 | 0.97 |
| Dec 31, 2020 | 0.30 | 0.31 | 0.90 |
| Dec 31, 2019 | 0.36 | 0.33 | 0.87 |
| Dec 31, 2018 | 0.45 | 0.16 | 0.92 |
| Dec 31, 2017 | 0.40 | 0.56 | 0.75 |
| Dec 31, 2016 | 0.33 | 0.54 | 1.76 |
| Dec 31, 2015 | 0.38 | 0.59 | 1.96 |
| Dec 31, 2014 | 0.47 | 0.62 | 1.95 |
| Dec 31, 2013 | 0.73 | 0.59 | 1.60 |
| Dec 31, 2012 | 0.80 | 0.62 | 1.53 |
| Dec 31, 2011 | 0.90 | 0.69 | 1.68 |
| Dec 31, 2010 | 0.77 | 0.66 | 1.50 |
| Dec 31, 2009 | 0.72 | 0.63 | 1.64 |
| Dec 31, 2008 | 0.86 | 0.83 | 1.81 |
| Dec 31, 2007 | 0.83 | 0.70 | 1.65 |
| Dec 31, 2006 | 0.94 | 0.75 | 1.56 |
| Dec 31, 2005 | 0.83 | 0.73 | 1.65 |
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: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
Albemarle Corp., total asset turnover, long-term trends, comparison to sector (chemicals)
| Albemarle Corp. | Chemicals | |
|---|---|---|
| Dec 31, 2022 | 0.47 | 0.54 |
| Dec 31, 2021 | 0.30 | 0.50 |
| Dec 31, 2020 | 0.30 | 0.42 |
| Dec 31, 2019 | 0.36 | 0.43 |
| Dec 31, 2018 | 0.45 | 0.29 |
| Dec 31, 2017 | 0.40 | 0.65 |
| Dec 31, 2016 | 0.33 | 0.86 |
| Dec 31, 2015 | 0.38 | 0.92 |
| Dec 31, 2014 | 0.47 | 0.92 |
| Dec 31, 2013 | 0.73 | 0.83 |
| Dec 31, 2012 | 0.80 | 0.85 |
| Dec 31, 2011 | 0.90 | 0.93 |
| Dec 31, 2010 | 0.77 | 0.88 |
| Dec 31, 2009 | 0.72 | 0.86 |
| Dec 31, 2008 | 0.86 | 1.07 |
| Dec 31, 2007 | 0.83 | 0.95 |
| Dec 31, 2006 | 0.94 | 1.00 |
| Dec 31, 2005 | 0.83 | 1.00 |
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: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Albemarle Corp., total asset turnover, long-term trends, comparison to industry (materials)
| Albemarle Corp. | Materials | |
|---|---|---|
| Dec 31, 2022 | 0.47 | 0.51 |
| Dec 31, 2021 | 0.30 | 0.49 |
| Dec 31, 2020 | 0.30 | 0.40 |
| Dec 31, 2019 | 0.36 | 0.41 |
| Dec 31, 2018 | 0.45 | 0.33 |
| Dec 31, 2017 | 0.40 | 0.55 |
| Dec 31, 2016 | 0.33 | 0.59 |
| Dec 31, 2015 | 0.38 | 0.54 |
| Dec 31, 2014 | 0.47 | 0.53 |
| Dec 31, 2013 | 0.73 | 0.48 |
| Dec 31, 2012 | 0.80 | 0.65 |
| Dec 31, 2011 | 0.90 | 0.76 |
| Dec 31, 2010 | 0.77 | 0.74 |
| Dec 31, 2009 | 0.72 | 0.70 |
| Dec 31, 2008 | 0.86 | 0.90 |
| Dec 31, 2007 | 0.83 | 0.58 |
| Dec 31, 2006 | 0.94 | 1.02 |
| Dec 31, 2005 | 0.83 | 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: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).