Apple Inc (AAPL)

Total asset turnover

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	391,035,000	384,601,000	379,623,000	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
Total assets	US$ in thousands	364,980,000	331,612,000	337,411,000	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
Total asset turnover		1.07	1.16	1.13	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

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $391,035,000K ÷ $364,980,000K
= 1.07

Total asset turnover measures a company's ability to generate revenue from its total assets. For Apple Inc, the total asset turnover over the past several quarters has fluctuated. It ranged from a low of 0.78 in December 2019 to a high of 1.16 in June 2024.

An increasing total asset turnover ratio indicates that Apple is becoming more efficient in utilizing its assets to generate revenue. However, a decreasing ratio may suggest inefficiencies in asset utilization or changes in the business model.

Overall, Apple's total asset turnover has shown variability but has generally been above 1, indicating that the company is effectively using its assets to generate revenue. Further analysis of the factors contributing to these fluctuations would provide a more in-depth understanding of Apple's operational efficiency.