Total Asset Turnover
since 2005
Calculation
Kimberly-Clark Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2020 | 1.09 | = | 19,140) | ÷ | 17,523) |
| Dec 31, 2019 | 1.21 | = | 18,450) | ÷ | 15,283) |
| Dec 31, 2018 | 1.27 | = | 18,486) | ÷ | 14,518) |
| Dec 31, 2017 | 1.21 | = | 18,259) | ÷ | 15,151) |
| Dec 31, 2016 | 1.25 | = | 18,202) | ÷ | 14,602) |
| Dec 31, 2015 | 1.25 | = | 18,591) | ÷ | 14,842) |
| Dec 31, 2014 | 1.27 | = | 19,724) | ÷ | 15,526) |
| Dec 31, 2013 | 1.12 | = | 21,152) | ÷ | 18,919) |
| Dec 31, 2012 | 1.06 | = | 21,063) | ÷ | 19,873) |
| Dec 31, 2011 | 1.08 | = | 20,846) | ÷ | 19,373) |
| Dec 31, 2010 | 0.99 | = | 19,746) | ÷ | 19,864) |
| Dec 31, 2009 | 1.00 | = | 19,115) | ÷ | 19,209) |
| Dec 31, 2008 | 1.07 | = | 19,415) | ÷ | 18,089) |
| Dec 31, 2007 | 0.99 | = | 18,266) | ÷ | 18,440) |
| Dec 31, 2006 | 0.98 | = | 16,747) | ÷ | 17,067) |
| Dec 31, 2005 | 0.98 | = | 15,903) | ÷ | 16,303) |
Based on: 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
An analysis of the financial performance from 2005 to 2020 reveals a shifting relationship between net sales and total assets, directly impacting the total asset turnover ratio. The company experienced two distinct phases of asset utilization: a period of stability followed by a period of increased efficiency, ending with a recent decline in turnover.
- Net Sales and Asset Trends
- Net sales exhibited a consistent upward trajectory from 2005, rising from 15,903 million USD to a peak of 21,152 million USD in 2013. Simultaneously, total assets grew from 16,303 million USD in 2005 to a peak of 19,864 million USD in 2010. After 2013, a contraction is observed in both metrics, with net sales stabilizing between 18,200 million USD and 19,700 million USD, while total assets saw a significant reduction starting in 2014, dropping to a low of 14,518 million USD by 2018.
- Asset Turnover Efficiency
- The total asset turnover ratio remained relatively stagnant between 0.98 and 1.00 from 2005 to 2010. A notable improvement in efficiency began in 2011, with the ratio climbing to 1.08. The most significant increase occurred between 2014 and 2018, where the ratio peaked at 1.27. This increase was primarily driven by a substantial reduction in the total asset base rather than sales growth, indicating a leaner operational structure or the divestment of underperforming assets during this period.
- Recent Performance Correlation
- A reversal in the turnover trend is evident in the final two years of the period. While net sales remained relatively flat, total assets increased from 15,283 million USD in 2018 to 17,523 million USD in 2020. This expansion of the asset base without a proportional increase in sales resulted in a decline of the total asset turnover ratio to 1.09 by December 31, 2020, suggesting a reduction in asset productivity compared to the 2014-2018 peak.
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
Kimberly-Clark Corp., total asset turnover, long-term trends, comparison to competitors
| Kimberly-Clark Corp. | Procter & Gamble Co. | |
|---|---|---|
| Dec 31, 2020 | 1.09 | 0.59 |
| Dec 31, 2019 | 1.21 | 0.59 |
| Dec 31, 2018 | 1.27 | 0.56 |
| Dec 31, 2017 | 1.21 | 0.54 |
| Dec 31, 2016 | 1.25 | 0.51 |
| Dec 31, 2015 | 1.25 | 0.59 |
| Dec 31, 2014 | 1.27 | 0.58 |
| Dec 31, 2013 | 1.12 | 0.60 |
| Dec 31, 2012 | 1.06 | 0.63 |
| Dec 31, 2011 | 1.08 | 0.60 |
| Dec 31, 2010 | 0.99 | 0.62 |
| Dec 31, 2009 | 1.00 | 0.59 |
| Dec 31, 2008 | 1.07 | 0.58 |
| Dec 31, 2007 | 0.99 | 0.55 |
| Dec 31, 2006 | 0.98 | 0.50 |
| Dec 31, 2005 | 0.98 | 0.92 |
Based on: 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)
Kimberly-Clark Corp., total asset turnover, long-term trends, comparison to industry (consumer staples)
| Kimberly-Clark Corp. | Consumer Staples | |
|---|---|---|
| Dec 31, 2020 | 1.09 | 1.32 |
| Dec 31, 2019 | 1.21 | 1.39 |
| Dec 31, 2018 | 1.27 | 1.39 |
| Dec 31, 2017 | 1.21 | 1.34 |
| Dec 31, 2016 | 1.25 | 1.35 |
| Dec 31, 2015 | 1.25 | 1.37 |
| Dec 31, 2014 | 1.27 | 1.32 |
| Dec 31, 2013 | 1.12 | 1.30 |
| Dec 31, 2012 | 1.06 | 1.30 |
| Dec 31, 2011 | 1.08 | 1.27 |
| Dec 31, 2010 | 0.99 | 1.24 |
| Dec 31, 2009 | 1.00 | 1.36 |
| Dec 31, 2008 | 1.07 | 1.35 |
| Dec 31, 2007 | 0.99 | 1.32 |
| Dec 31, 2006 | 0.98 | 1.33 |
| Dec 31, 2005 | 0.98 | 1.52 |
Based on: 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).