Total Asset Turnover
since 2005
Calculation
Amphenol Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.76 | = | 12,554,700) | ÷ | 16,526,400) |
| Dec 31, 2022 | 0.82 | = | 12,623,000) | ÷ | 15,326,200) |
| Dec 31, 2021 | 0.74 | = | 10,876,300) | ÷ | 14,678,400) |
| Dec 31, 2020 | 0.70 | = | 8,598,900) | ÷ | 12,327,300) |
| Dec 31, 2019 | 0.76 | = | 8,225,400) | ÷ | 10,815,500) |
| Dec 31, 2018 | 0.82 | = | 8,202,000) | ÷ | 10,044,900) |
| Dec 31, 2017 | 0.70 | = | 7,011,300) | ÷ | 10,003,900) |
| Dec 31, 2016 | 0.74 | = | 6,286,400) | ÷ | 8,498,700) |
| Dec 31, 2015 | 0.75 | = | 5,568,700) | ÷ | 7,458,400) |
| Dec 31, 2014 | 0.76 | = | 5,345,500) | ÷ | 7,027,000) |
| Dec 31, 2013 | 0.75 | = | 4,614,669) | ÷ | 6,168,028) |
| Dec 31, 2012 | 0.82 | = | 4,292,065) | ÷ | 5,215,463) |
| Dec 31, 2011 | 0.89 | = | 3,939,786) | ÷ | 4,445,225) |
| Dec 31, 2010 | 0.89 | = | 3,554,101) | ÷ | 4,015,857) |
| Dec 31, 2009 | 0.88 | = | 2,820,065) | ÷ | 3,219,184) |
| Dec 31, 2008 | 1.08 | = | 3,236,471) | ÷ | 2,994,159) |
| Dec 31, 2007 | 1.07 | = | 2,851,041) | ÷ | 2,675,733) |
| Dec 31, 2006 | 1.13 | = | 2,471,430) | ÷ | 2,195,397) |
| Dec 31, 2005 | 0.94 | = | 1,808,147) | ÷ | 1,932,540) |
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 thousands
Analysis of the period from 2005 to 2023 reveals a significant expansion in both net sales and total assets, accompanied by a long-term decline in total asset turnover. Net sales increased from approximately $1.81 billion in 2005 to $12.55 billion by 2023, while total assets grew from $1.93 billion to $16.53 billion over the same timeframe. This indicates that while the scale of operations expanded substantially, the efficiency with which assets were utilized to generate revenue decreased over the long term.
- Early Efficiency Peak (2005–2008)
- The highest levels of asset utilization occurred during this initial period, with the total asset turnover ratio peaking at 1.13 in 2006. During these years, the ratio remained consistently above 0.90, suggesting a lean asset base relative to the volume of sales generated.
- Gradual Efficiency Decline (2009–2017)
- A sustained downward trend is observed starting in 2009, as the ratio fell to 0.88 and continued a general descent to 0.70 by 2017. This compression indicates that total assets grew at a faster rate than net sales during this decade, leading to a reduction in the revenue generated per dollar of assets.
- Stabilization and Recent Fluctuations (2018–2023)
- The ratio entered a period of stabilization between 2018 and 2023, fluctuating within a range of 0.70 to 0.82. Notable recoveries were observed in 2018 and 2022, where the ratio returned to 0.82, though it moderated to 0.76 by the end of 2023. This volatility suggests a dynamic balance between aggressive asset acquisition and corresponding sales growth in the most recent years.
Overall, the transition from a peak turnover of 1.13 to a closing value of 0.76 reflects a fundamental shift in the company's asset-to-sales relationship. The growth in the total asset base has outpaced the growth in net sales over the nineteen-year horizon, resulting in a lower overall asset turnover ratio despite the massive increase in absolute revenue.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Amphenol Corp., total asset turnover, long-term trends, comparison to competitors
| Amphenol Corp. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 0.76 | 1.09 | 0.59 | 0.56 | 1.14 | 0.38 | 1.94 |
| Dec 31, 2022 | 0.82 | 1.12 | 0.65 | 0.55 | 1.09 | 0.41 | 1.62 |
| Dec 31, 2021 | 0.74 | 1.04 | 0.51 | 0.51 | 0.76 | 0.49 | 1.59 |
| Dec 31, 2020 | 0.70 | 0.85 | 0.49 | 0.52 | 0.78 | 0.51 | 1.74 |
| Dec 31, 2019 | 0.76 | 0.77 | 0.58 | 0.53 | 0.81 | 0.58 | 2.08 |
| Dec 31, 2018 | 0.82 | 0.73 | 0.70 | 0.45 | — | 0.79 | 1.90 |
| Dec 31, 2017 | 0.70 | 0.61 | 0.67 | 0.37 | — | 0.81 | 1.64 |
| Dec 31, 2016 | 0.74 | 0.67 | 0.65 | 0.40 | — | 1.24 | 1.90 |
| Dec 31, 2015 | 0.75 | 0.80 | 0.72 | 0.43 | — | 1.63 | 1.83 |
| Dec 31, 2014 | 0.76 | 0.79 | 0.72 | 0.45 | — | — | 1.84 |
| Dec 31, 2013 | 0.75 | 0.83 | — | 0.48 | — | — | 1.84 |
| Dec 31, 2012 | 0.82 | 0.89 | — | 0.50 | — | — | 1.72 |
| Dec 31, 2011 | 0.89 | 0.93 | — | 0.50 | — | — | 2.03 |
| Dec 31, 2010 | 0.89 | 0.87 | — | 0.49 | — | — | 1.95 |
| Dec 31, 2009 | 0.88 | 0.68 | — | 0.53 | — | — | 1.79 |
| Dec 31, 2008 | 1.08 | 0.82 | — | 0.67 | — | — | 2.04 |
| Dec 31, 2007 | 1.07 | 0.95 | — | 0.65 | — | — | 2.04 |
| Dec 31, 2006 | 1.13 | 1.12 | — | 0.66 | — | — | — |
| Dec 31, 2005 | 0.94 | 1.21 | — | 0.73 | — | — | — |
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 (Technology Hardware & Equipment)
Amphenol Corp., total asset turnover, long-term trends, comparison to sector (technology hardware & equipment)
| Amphenol Corp. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 31, 2023 | 0.76 | 0.99 |
| Dec 31, 2022 | 0.82 | 1.01 |
| Dec 31, 2021 | 0.74 | 0.89 |
| Dec 31, 2020 | 0.70 | 0.77 |
| Dec 31, 2019 | 0.76 | 0.74 |
| Dec 31, 2018 | 0.82 | 0.67 |
| Dec 31, 2017 | 0.70 | 0.55 |
| Dec 31, 2016 | 0.74 | 0.60 |
| Dec 31, 2015 | 0.75 | 0.70 |
| Dec 31, 2014 | 0.76 | 0.69 |
| Dec 31, 2013 | 0.75 | 0.71 |
| Dec 31, 2012 | 0.82 | 0.76 |
| Dec 31, 2011 | 0.89 | 0.75 |
| Dec 31, 2010 | 0.89 | 0.68 |
| Dec 31, 2009 | 0.88 | 0.60 |
| Dec 31, 2008 | 1.08 | 0.74 |
| Dec 31, 2007 | 1.07 | 0.75 |
| Dec 31, 2006 | 1.13 | 0.79 |
| Dec 31, 2005 | 0.94 | 0.85 |
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 (Information Technology)
Amphenol Corp., total asset turnover, long-term trends, comparison to industry (information technology)
| Amphenol Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 0.76 | 0.61 |
| Dec 31, 2022 | 0.82 | 0.64 |
| Dec 31, 2021 | 0.74 | 0.62 |
| Dec 31, 2020 | 0.70 | 0.58 |
| Dec 31, 2019 | 0.76 | 0.59 |
| Dec 31, 2018 | 0.82 | 0.59 |
| Dec 31, 2017 | 0.70 | 0.51 |
| Dec 31, 2016 | 0.74 | 0.55 |
| Dec 31, 2015 | 0.75 | 0.63 |
| Dec 31, 2014 | 0.76 | 0.64 |
| Dec 31, 2013 | 0.75 | 0.66 |
| Dec 31, 2012 | 0.82 | 0.70 |
| Dec 31, 2011 | 0.89 | 0.73 |
| Dec 31, 2010 | 0.89 | 0.72 |
| Dec 31, 2009 | 0.88 | 0.69 |
| Dec 31, 2008 | 1.08 | 0.79 |
| Dec 31, 2007 | 1.07 | 0.76 |
| Dec 31, 2006 | 1.13 | 0.75 |
| Dec 31, 2005 | 0.94 | 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).