Total Asset Turnover
since 2005
Calculation
General Dynamics Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 0.81 | = | 39,350) | ÷ | 48,841) |
| Dec 31, 2018 | 0.80 | = | 36,193) | ÷ | 45,408) |
| Dec 31, 2017 | 0.88 | = | 30,973) | ÷ | 35,046) |
| Dec 31, 2016 | 0.95 | = | 31,353) | ÷ | 32,872) |
| Dec 31, 2015 | 0.98 | = | 31,469) | ÷ | 31,997) |
| Dec 31, 2014 | 0.87 | = | 30,852) | ÷ | 35,355) |
| Dec 31, 2013 | 0.88 | = | 31,218) | ÷ | 35,448) |
| Dec 31, 2012 | 0.92 | = | 31,513) | ÷ | 34,309) |
| Dec 31, 2011 | 0.94 | = | 32,677) | ÷ | 34,883) |
| Dec 31, 2010 | 1.00 | = | 32,466) | ÷ | 32,545) |
| Dec 31, 2009 | 1.03 | = | 31,981) | ÷ | 31,077) |
| Dec 31, 2008 | 0.10 | = | 2,930) | ÷ | 28,373) |
| Dec 31, 2007 | 1.06 | = | 27,240) | ÷ | 25,733) |
| Dec 31, 2006 | 1.08 | = | 24,063) | ÷ | 22,376) |
| Dec 31, 2005 | 1.08 | = | 21,244) | ÷ | 19,591) |
Based on: 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
The financial data reveals several notable trends and fluctuations over the analyzed period. Revenues generally demonstrate a strong upward trajectory, starting from US$21,244 million in 2005 and rising to US$39,350 million by 2019, indicating growth in business operations and sales capacity. Despite a significant dip to US$2,930 million in 2008, revenues recovered quickly in subsequent years, maintaining a steady increase through to the end of the period, with particularly sharp growth noted in 2018 and 2019.
Total assets also exhibit a consistent upward trend over the period, growing from US$19,591 million in 2005 to US$48,841 million in 2019. This increase reflects ongoing asset accumulation and investment, likely supporting expanded operational capabilities and future revenue growth. The assets' growth appears relatively steady, with a notable jump occurring between 2017 and 2018, aligning with the period of pronounced revenue growth.
Total asset turnover, which is a measure of efficiency in using assets to generate revenue, shows a declining trend overall. Initially, the ratio remains stable around 1.06-1.08 for 2005 through 2007. However, in 2008, the ratio drops sharply to 0.1, an anomaly likely due to the significant revenue decrease that year. After this outlier, the turnover ratio gradually trends downwards from just above 1 in 2009 to around 0.8 by 2019. This decline suggests a reduction in asset utilization efficiency over time, implying that asset growth has outpaced revenue growth in the latter years.
- Revenues
- Overall growth from 2005 to 2019, with a steep decline in 2008 followed by recovery and acceleration in later years.
- Total assets
- Steady increase throughout the period, with accelerated growth particularly visible from 2017 to 2019.
- Total asset turnover
- Relatively stable initially, followed by a severe drop in 2008, and then a gradual decline indicating reduced efficiency in asset use to generate revenues over time.
Comparison to Competitors
General Dynamics Corp., total asset turnover, long-term trends, comparison to competitors
| General Dynamics Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2019 | 0.81 | 0.57 | 0.65 | 0.65 | 0.33 | 0.63 | 1.26 | 0.55 |
| Dec 31, 2018 | 0.80 | 0.86 | 0.66 | 0.70 | 0.37 | 0.72 | 1.20 | 0.50 |
| Dec 31, 2017 | 0.88 | 1.01 | 0.55 | 0.63 | 0.30 | 0.68 | 1.10 | 0.62 |
| Dec 31, 2016 | 0.95 | 1.05 | 0.48 | 0.65 | 0.30 | 0.73 | 0.99 | 0.64 |
| Dec 31, 2015 | 0.98 | 1.02 | 0.56 | 0.67 | 0.21 | 0.78 | 0.94 | 0.64 |
| Dec 31, 2014 | 0.87 | 0.91 | 0.62 | 0.67 | 0.16 | 0.89 | 1.23 | 0.71 |
| Dec 31, 2013 | 0.88 | 0.93 | 0.62 | 0.62 | 0.15 | 0.86 | 1.25 | 0.69 |
| Dec 31, 2012 | 0.92 | 0.92 | 0.71 | 0.46 | 0.15 | 0.90 | 1.22 | 0.65 |
| Dec 31, 2011 | 0.94 | 0.86 | 0.70 | 0.90 | 0.13 | 0.92 | 1.23 | 0.95 |
| Dec 31, 2010 | 1.00 | 0.94 | 0.62 | 0.79 | 0.13 | 0.88 | 1.31 | 0.93 |
| Dec 31, 2009 | 1.03 | 1.10 | 0.49 | 0.73 | 0.13 | 0.86 | 1.29 | 0.94 |
| Dec 31, 2008 | 0.10 | 1.13 | 0.71 | 0.92 | 0.14 | 1.03 | 1.28 | 1.03 |
| Dec 31, 2007 | 1.06 | 1.13 | 0.75 | 0.97 | 0.13 | 1.02 | 1.45 | 0.99 |
| Dec 31, 2006 | 1.08 | 1.19 | 0.76 | 1.08 | 0.14 | 1.01 | 1.40 | 1.00 |
| Dec 31, 2005 | 1.08 | 0.91 | 0.72 | 1.09 | 0.14 | 0.86 | 1.34 | 0.92 |
Based on: 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 (Capital Goods)
General Dynamics Corp., total asset turnover, long-term trends, comparison to sector (capital goods)
| General Dynamics Corp. | Capital Goods | |
|---|---|---|
| Dec 31, 2019 | 0.81 | 0.54 |
| Dec 31, 2018 | 0.80 | 0.58 |
| Dec 31, 2017 | 0.88 | 0.54 |
| Dec 31, 2016 | 0.95 | 0.54 |
| Dec 31, 2015 | 0.98 | 0.46 |
| Dec 31, 2014 | 0.87 | 0.41 |
| Dec 31, 2013 | 0.88 | 0.39 |
| Dec 31, 2012 | 0.92 | 0.38 |
| Dec 31, 2011 | 0.94 | 0.36 |
| Dec 31, 2010 | 1.00 | 0.34 |
| Dec 31, 2009 | 1.03 | 0.33 |
| Dec 31, 2008 | 0.10 | 0.35 |
| Dec 31, 2007 | 1.06 | 0.34 |
| Dec 31, 2006 | 1.08 | 0.36 |
| Dec 31, 2005 | 1.08 | 0.33 |
Based on: 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 (Industrials)
General Dynamics Corp., total asset turnover, long-term trends, comparison to industry (industrials)
| General Dynamics Corp. | Industrials | |
|---|---|---|
| Dec 31, 2019 | 0.81 | 0.62 |
| Dec 31, 2018 | 0.80 | 0.67 |
| Dec 31, 2017 | 0.88 | 0.62 |
| Dec 31, 2016 | 0.95 | 0.61 |
| Dec 31, 2015 | 0.98 | 0.54 |
| Dec 31, 2014 | 0.87 | 0.49 |
| Dec 31, 2013 | 0.88 | 0.47 |
| Dec 31, 2012 | 0.92 | 0.46 |
| Dec 31, 2011 | 0.94 | 0.45 |
| Dec 31, 2010 | 1.00 | 0.41 |
| Dec 31, 2009 | 1.03 | 0.39 |
| Dec 31, 2008 | 0.10 | 0.43 |
| Dec 31, 2007 | 1.06 | 0.41 |
| Dec 31, 2006 | 1.08 | 0.43 |
| Dec 31, 2005 | 1.08 | 0.40 |
Based on: 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).