Total Asset Turnover
since 2005
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Baxter International Inc. pages available for free this week:
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Analysis of Debt
- Aggregate Accruals
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Calculation
Baxter International Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 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 Sales Trend
- Net sales demonstrated a consistent upward trend from 2005 to 2014, increasing from 9,849 million US dollars to a peak of 16,671 million US dollars. This represents a significant growth over the period. However, in 2015, there was a marked decline to 9,968 million US dollars, interrupting the previous growth pattern.
- Total Assets Trend
- Total assets exhibited steady growth from 12,727 million US dollars in 2005 to a peak of 25,917 million US dollars in 2014. This steady increase indicates continuous expansion in asset base over the years. Notably, total assets decreased in 2015 to 20,975 million US dollars, which parallels the decline observed in net sales.
- Total Asset Turnover Analysis
- Total asset turnover ratios fluctuated within a narrow range during the earlier years, starting at 0.77 in 2005, with minor decreases and recoveries through to 0.73 in 2011. A declining trend began after 2011, reaching 0.59 in 2013, followed by a slight increase to 0.64 in 2014. In 2015, the ratio dropped significantly to 0.48. This trend suggests a decreasing efficiency in asset utilization to generate sales, particularly in the latter years.
- Overall Observations
- The data reveals sustained growth in both sales and assets for nearly a decade, reflecting expansion and potentially positive market conditions. The decline in both net sales and total assets in 2015 signals a reversal that warrants attention. The decreasing total asset turnover ratio over the latter years indicates that asset utilization became less efficient, which could be associated with the decline in sales performance or increased asset base not translating into proportional revenue.
Comparison to Competitors
Baxter International Inc., total asset turnover, long-term trends, comparison to competitors
| Baxter International Inc. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2015 | |||||||
| Dec 31, 2014 | |||||||
| Dec 31, 2013 | |||||||
| Dec 31, 2012 | |||||||
| Dec 31, 2011 | |||||||
| Dec 31, 2010 | |||||||
| Dec 31, 2009 | |||||||
| Dec 31, 2008 | |||||||
| Dec 31, 2007 | |||||||
| Dec 31, 2006 | |||||||
| Dec 31, 2005 |
Based on: 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 (Health Care Equipment & Services)
Baxter International Inc., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| Baxter International Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 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 (Health Care)
Baxter International Inc., total asset turnover, long-term trends, comparison to industry (health care)
| Baxter International Inc. | Health Care | |
|---|---|---|
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 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).