Apple Inc (AAPL)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 383,706,000 | 380,282,000 | 381,105,000 | 382,546,000 | 384,297,000 | 391,397,000 | 384,766,000 | 383,295,000 | 375,622,000 | 363,172,000 | 345,182,000 | 323,401,000 | 292,043,000 | 272,276,000 | 271,618,000 | 265,573,000 | 265,022,000 | 257,408,000 | 256,268,000 | 256,590,000 |
| Total assets | US$ in thousands | 353,514,000 | 352,583,000 | 335,038,000 | 332,160,000 | 346,747,000 | 352,755,000 | 336,309,000 | 350,662,000 | 381,191,000 | 351,002,000 | 329,840,000 | 337,158,000 | 354,054,000 | 323,888,000 | 317,344,000 | 320,400,000 | 340,618,000 | 338,516,000 | 322,239,000 | 341,998,000 |
| Total asset turnover | 1.09 | 1.08 | 1.14 | 1.15 | 1.11 | 1.11 | 1.14 | 1.09 | 0.99 | 1.03 | 1.05 | 0.96 | 0.82 | 0.84 | 0.86 | 0.83 | 0.78 | 0.76 | 0.80 | 0.75 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $383,706,000K ÷ $353,514,000K
= 1.09
Apple Inc's total asset turnover has shown fluctuations over the period analyzed. The ratio measures how efficiently the company is utilizing its assets to generate revenue. A total asset turnover of 1.09 indicates that for every dollar of assets held by Apple, it generates $1.09 in sales. The trend has been relatively stable, with some periods showing slightly higher or lower ratios.
Key points to note are the increase in total asset turnover from March 2021 to June 2023, reaching a peak of 1.15 in March 2023. This suggests that Apple has been able to increase its sales relative to its total assets during this period. However, there was a decrease in total asset turnover in the later part of 2023, which could indicate a potential decrease in sales generated per dollar of assets.
Overall, a total asset turnover above 1 indicates efficient asset utilization, but investors should monitor the trend to see if Apple can maintain or improve its efficiency in generating sales from its assets in the future.
Peer comparison
Dec 31, 2023