Total Asset Turnover
since 2005
Calculation
Altria Group Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.63 | = | 24,483) | ÷ | 38,570) |
| Dec 31, 2022 | 0.68 | = | 25,096) | ÷ | 36,954) |
| Dec 31, 2021 | 0.66 | = | 26,013) | ÷ | 39,523) |
| Dec 31, 2020 | 0.55 | = | 26,153) | ÷ | 47,414) |
| Dec 31, 2019 | 0.51 | = | 25,110) | ÷ | 49,271) |
| Dec 31, 2018 | 0.46 | = | 25,364) | ÷ | 55,638) |
| Dec 31, 2017 | 0.59 | = | 25,576) | ÷ | 43,202) |
| Dec 31, 2016 | 0.56 | = | 25,744) | ÷ | 45,932) |
| Dec 31, 2015 | 0.78 | = | 25,434) | ÷ | 32,535) |
| Dec 31, 2014 | 0.71 | = | 24,522) | ÷ | 34,475) |
| Dec 31, 2013 | 0.70 | = | 24,466) | ÷ | 34,859) |
| Dec 31, 2012 | 0.70 | = | 24,618) | ÷ | 35,329) |
| Dec 31, 2011 | 0.64 | = | 23,800) | ÷ | 36,962) |
| Dec 31, 2010 | 0.65 | = | 24,363) | ÷ | 37,402) |
| Dec 31, 2009 | 0.64 | = | 23,556) | ÷ | 36,677) |
| Dec 31, 2008 | 0.71 | = | 19,356) | ÷ | 27,215) |
| Dec 31, 2007 | 1.29 | = | 73,801) | ÷ | 57,211) |
| Dec 31, 2006 | 0.97 | = | 101,407) | ÷ | 104,270) |
| Dec 31, 2005 | 0.91 | = | 97,854) | ÷ | 107,949) |
Based on: 10-K (reporting date: 2023-12-31), 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 millions
- Net Revenues
- Net revenues exhibit considerable variation over the periods analyzed. There was a marked decrease from 101,407 million USD in 2006 to a low point of 19,356 million USD by 2008. Following this sharp decline, net revenues stabilized in the range of approximately 23,000 to 26,000 million USD from 2009 onwards. Although fluctuations occurred within this range, the overall trend post-2008 indicates relative consistency without significant growth or decline, ending at 24,483 million USD in 2023.
- Total Assets
- Total assets showed a declining trajectory from a peak of 107,949 million USD in 2005 to 27,215 million USD in 2008. After 2008, total assets generally remained at a lower level compared to earlier years but displayed some recovery and fluctuations, rising to a secondary peak of 55,638 million USD in 2018 before declining again to 38,570 million USD by 2023. This pattern suggests restructuring or disposals occurred between 2005 and 2008, followed by moderate recovery and further asset base reduction towards the end of the period.
- Total Asset Turnover
- The total asset turnover ratio started at 0.91 in 2005, improving to a peak of 1.29 by 2007. This ratio then dipped sharply to 0.71 in 2008, aligning with the reduction in net revenues and total assets during that time. Subsequently, the ratio mostly hovered between 0.46 and 0.78, indicating decreased efficiency in asset utilization relative to the 2007 peak. Notably, the ratio reached a low of 0.46 in 2018, reflecting less efficient asset use, but modest improvements occurred thereafter, stabilizing around 0.63 by 2023.
- Summary of trends
- The financial data collectively indicates that the company underwent a significant contraction between 2006 and 2008, reflected in sharp declines in net revenues, total assets, and asset turnover. Post-2008, both net revenues and total assets showed signs of stabilization but at notably lower levels than pre-2008. Asset utilization efficiency also declined and remained subdued compared to earlier periods. The data suggests a period of structural adjustment with no strong trend towards revenue growth or asset base expansion in the most recent years assessed.
Comparison to Competitors
Altria Group Inc., total asset turnover, long-term trends, comparison to competitors
| Altria Group Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.63 | 0.47 | 0.50 | 0.91 | 0.54 |
| Dec 31, 2022 | 0.68 | 0.46 | 0.44 | 0.94 | 0.51 |
| Dec 31, 2021 | 0.66 | 0.41 | 0.43 | 0.86 | 0.76 |
| Dec 31, 2020 | 0.55 | 0.38 | 0.39 | 0.76 | 0.64 |
| Dec 31, 2019 | 0.51 | 0.43 | 0.40 | 0.86 | 0.70 |
| Dec 31, 2018 | 0.46 | 0.38 | 0.41 | 0.83 | 0.74 |
| Dec 31, 2017 | 0.59 | 0.40 | 0.41 | 0.80 | 0.67 |
| Dec 31, 2016 | 0.56 | 0.48 | 0.42 | 0.85 | 0.72 |
| Dec 31, 2015 | 0.78 | 0.49 | 0.47 | 0.91 | 0.79 |
| Dec 31, 2014 | 0.71 | 0.50 | 0.51 | 0.95 | 0.85 |
| Dec 31, 2013 | 0.70 | 0.52 | 0.49 | 0.86 | 0.82 |
| Dec 31, 2012 | 0.70 | 0.56 | 0.46 | 0.88 | 0.83 |
| Dec 31, 2011 | 0.64 | 0.58 | 0.58 | 0.91 | 0.88 |
| Dec 31, 2010 | 0.65 | 0.48 | 0.52 | 0.85 | 0.78 |
| Dec 31, 2009 | 0.64 | 0.64 | 0.61 | 1.08 | 0.72 |
| Dec 31, 2008 | 0.71 | 0.79 | 0.67 | 1.20 | 0.78 |
| Dec 31, 2007 | 1.29 | 0.67 | 0.55 | 1.14 | — |
| Dec 31, 2006 | 0.97 | 0.80 | 0.62 | 1.17 | — |
| Dec 31, 2005 | 0.91 | 0.79 | 0.59 | 1.03 | — |
Based on: 10-K (reporting date: 2023-12-31), 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 (Food, Beverage & Tobacco)
Altria Group Inc., total asset turnover, long-term trends, comparison to sector (food, beverage & tobacco)
| Altria Group Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2023 | 0.63 | 0.62 |
| Dec 31, 2022 | 0.68 | 0.61 |
| Dec 31, 2021 | 0.66 | 0.60 |
| Dec 31, 2020 | 0.55 | 0.54 |
| Dec 31, 2019 | 0.51 | 0.59 |
| Dec 31, 2018 | 0.46 | 0.58 |
| Dec 31, 2017 | 0.59 | 0.56 |
| Dec 31, 2016 | 0.56 | 0.61 |
| Dec 31, 2015 | 0.78 | 0.64 |
| Dec 31, 2014 | 0.71 | 0.67 |
| Dec 31, 2013 | 0.70 | 0.65 |
| Dec 31, 2012 | 0.70 | 0.66 |
| Dec 31, 2011 | 0.64 | 0.70 |
| Dec 31, 2010 | 0.65 | 0.62 |
| Dec 31, 2009 | 0.64 | 0.74 |
| Dec 31, 2008 | 0.71 | 0.83 |
| Dec 31, 2007 | 1.29 | 0.72 |
| Dec 31, 2006 | 0.97 | 0.81 |
| Dec 31, 2005 | 0.91 | 0.76 |
Based on: 10-K (reporting date: 2023-12-31), 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 (Consumer Staples)
Altria Group Inc., total asset turnover, long-term trends, comparison to industry (consumer staples)
| Altria Group Inc. | Consumer Staples | |
|---|---|---|
| Dec 31, 2023 | 0.63 | 1.51 |
| Dec 31, 2022 | 0.68 | 1.47 |
| Dec 31, 2021 | 0.66 | 1.41 |
| Dec 31, 2020 | 0.55 | 1.32 |
| Dec 31, 2019 | 0.51 | 1.39 |
| Dec 31, 2018 | 0.46 | 1.39 |
| Dec 31, 2017 | 0.59 | 1.34 |
| Dec 31, 2016 | 0.56 | 1.35 |
| Dec 31, 2015 | 0.78 | 1.37 |
| Dec 31, 2014 | 0.71 | 1.32 |
| Dec 31, 2013 | 0.70 | 1.30 |
| Dec 31, 2012 | 0.70 | 1.30 |
| Dec 31, 2011 | 0.64 | 1.27 |
| Dec 31, 2010 | 0.65 | 1.24 |
| Dec 31, 2009 | 0.64 | 1.36 |
| Dec 31, 2008 | 0.71 | 1.35 |
| Dec 31, 2007 | 1.29 | 1.32 |
| Dec 31, 2006 | 0.97 | 1.33 |
| Dec 31, 2005 | 0.91 | 1.52 |
Based on: 10-K (reporting date: 2023-12-31), 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).