AbbVie Inc (ABBV)

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	54,318,000	55,138,000	56,023,000	56,741,000	58,054,000	57,819,000	57,349,000	56,725,000	56,197,000	55,169,000	53,729,000	50,195,000	45,804,000	40,650,000	36,227,000	34,057,000	33,266,000	32,867,000	32,624,000	32,647,000
Total assets	US$ in thousands	134,711,000	136,221,000	135,367,000	134,544,000	138,805,000	141,325,000	143,186,000	143,211,000	146,529,000	148,858,000	147,972,000	150,501,000	150,565,000	149,621,000	149,530,000	91,199,000	89,115,000	59,441,000	57,142,000	56,769,000
Total asset turnover		0.40	0.40	0.41	0.42	0.42	0.41	0.40	0.40	0.38	0.37	0.36	0.33	0.30	0.27	0.24	0.37	0.37	0.55	0.57	0.58

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $54,318,000K ÷ $134,711,000K
= 0.40

Based on the data provided, Abbvie Inc's total asset turnover over the past eight quarters has ranged from 0.40 to 0.42. Total asset turnover measures the efficiency of a company in generating sales revenue in relation to its total assets. A higher total asset turnover ratio indicates that the company is utilizing its assets more effectively to generate sales.

In this case, Abbvie Inc's total asset turnover has remained relatively stable around the range of 0.40 to 0.42, suggesting consistent asset utilization efficiency over the period. The slight variations in the ratio from quarter to quarter may be influenced by changes in sales revenue and total assets.

Overall, with a total asset turnover ratio in this range, Abbvie Inc appears to be managing its assets efficiently to generate revenue, although further analysis in conjunction with other financial metrics would provide a more comprehensive understanding of the company's overall financial performance.