Total Asset Turnover
since 2013
Calculation
Twitter Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.36 | = | 5,077,482) | ÷ | 14,059,516) |
| Dec 31, 2020 | 0.28 | = | 3,716,349) | ÷ | 13,379,090) |
| Dec 31, 2019 | 0.27 | = | 3,459,329) | ÷ | 12,703,389) |
| Dec 31, 2018 | 0.30 | = | 3,042,359) | ÷ | 10,162,572) |
| Dec 31, 2017 | 0.33 | = | 2,443,299) | ÷ | 7,412,477) |
| Dec 31, 2016 | 0.37 | = | 2,529,619) | ÷ | 6,870,365) |
| Dec 31, 2015 | 0.34 | = | 2,218,032) | ÷ | 6,442,439) |
| Dec 31, 2014 | 0.25 | = | 1,403,002) | ÷ | 5,583,082) |
| Dec 31, 2013 | 0.20 | = | 664,890) | ÷ | 3,366,240) |
Based on: 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).
1 US$ in thousands
The analysis of financial performance from 2013 to 2021 reveals a fluctuating trend in asset utilization efficiency. While both revenue and total assets exhibited consistent growth over the period, the rate of increase for each varied, directly impacting the total asset turnover ratio.
- Revenue and Asset Expansion
- Revenue increased from US$ 664,890 thousand in 2013 to US$ 5,077,482 thousand in 2021. During the same period, total assets grew from US$ 3,366,240 thousand to US$ 14,059,516 thousand. The expansion of the asset base was more aggressive than revenue growth, particularly between 2018 and 2019, during which assets increased by approximately 26%.
- Total Asset Turnover Trends
- The total asset turnover ratio experienced an initial upward trajectory, rising from 0.20 in 2013 to a peak of 0.37 in 2016. This indicates an improving ability to generate revenue per dollar of assets held during the early part of the period. However, a subsequent decline occurred between 2017 and 2019, with the ratio dropping to a low of 0.27, reflecting a period where asset accumulation outpaced revenue generation.
- Efficiency Recovery
- A recovery in asset efficiency is observed in the final two years of the period. After remaining relatively flat at 0.28 in 2020, the ratio increased significantly to 0.36 by December 31, 2021. This improvement is primarily driven by a substantial surge in revenue in 2021, which outpaced the growth in total assets, returning the efficiency ratio to levels nearly identical to the 2016 peak.
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Comparison to Competitors
Twitter Inc., total asset turnover, long-term trends, comparison to competitors
| Twitter Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 0.36 | 0.72 | 0.42 | 0.71 | 0.67 | 0.33 |
| Dec 31, 2020 | 0.28 | 0.57 | 0.38 | 0.54 | 0.64 | 0.32 |
| Dec 31, 2019 | 0.27 | 0.59 | 0.41 | 0.53 | 0.59 | 0.36 |
| Dec 31, 2018 | 0.30 | 0.59 | 0.38 | 0.57 | 0.61 | 0.60 |
| Dec 31, 2017 | 0.33 | 0.56 | 0.45 | 0.48 | 0.61 | 0.58 |
| Dec 31, 2016 | 0.37 | 0.54 | 0.45 | 0.43 | 0.65 | 0.60 |
| Dec 31, 2015 | 0.34 | 0.51 | 0.45 | 0.36 | 0.66 | 0.59 |
| Dec 31, 2014 | 0.25 | 0.50 | 0.43 | 0.31 | 0.78 | 0.58 |
| Dec 31, 2013 | 0.20 | 0.54 | 0.41 | 0.44 | 0.81 | 0.55 |
Based on: 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).
Comparison to Sector (Media & Entertainment)
Twitter Inc., total asset turnover, long-term trends, comparison to sector (media & entertainment)
| Twitter Inc. | Media & Entertainment | |
|---|---|---|
| Dec 31, 2021 | 0.36 | 0.56 |
| Dec 31, 2020 | 0.28 | 0.47 |
| Dec 31, 2019 | 0.27 | 0.48 |
| Dec 31, 2018 | 0.30 | 0.51 |
| Dec 31, 2017 | 0.33 | 0.52 |
| Dec 31, 2016 | 0.37 | 0.51 |
| Dec 31, 2015 | 0.34 | 0.49 |
| Dec 31, 2014 | 0.25 | 0.48 |
| Dec 31, 2013 | 0.20 | 0.49 |
Based on: 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).
Comparison to Industry (Communication Services)
Twitter Inc., total asset turnover, long-term trends, comparison to industry (communication services)
| Twitter Inc. | Communication Services | |
|---|---|---|
| Dec 31, 2021 | 0.36 | 0.45 |
| Dec 31, 2020 | 0.28 | 0.41 |
| Dec 31, 2019 | 0.27 | 0.43 |
| Dec 31, 2018 | 0.30 | 0.45 |
| Dec 31, 2017 | 0.33 | 0.46 |
| Dec 31, 2016 | 0.37 | 0.48 |
| Dec 31, 2015 | 0.34 | 0.46 |
| Dec 31, 2014 | 0.25 | 0.49 |
| Dec 31, 2013 | 0.20 | 0.47 |
Based on: 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).