Asbury Automotive Group Inc (ABG)

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	14,802,700	14,696,900	14,896,600	15,104,200	15,433,700	14,382,600	12,922,800	11,556,700	9,837,800	9,417,000	8,856,300	7,717,400	7,131,800	6,791,800	6,788,400	7,146,800	7,210,300	7,100,500	7,015,900	6,936,000
Total assets	US$ in thousands	10,159,400	8,255,000	8,165,900	8,182,800	8,021,400	7,816,300	7,638,800	7,860,100	8,002,600	3,571,400	3,524,900	3,582,300	3,676,300	3,530,600	2,934,400	3,069,200	2,911,300	2,816,500	2,814,000	2,904,900
Total asset turnover		1.46	1.78	1.82	1.85	1.92	1.84	1.69	1.47	1.23	2.64	2.51	2.15	1.94	1.92	2.31	2.33	2.48	2.52	2.49	2.39

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $14,802,700K ÷ $10,159,400K
= 1.46

Asbury Automotive Group Inc's total asset turnover has fluctuated over the past eight quarters, ranging from a low of 1.46 in Q4 2023 to a high of 1.92 in Q4 2022. The total asset turnover ratio measures the efficiency of the company in generating sales from its total assets. A higher total asset turnover ratio indicates that the company is more efficient in utilizing its assets to generate revenues.

The decreasing trend in total asset turnover from Q4 2022 to Q4 2023 suggests a potential decrease in asset efficiency or a decrease in sales generated from the assets. This trend should be further investigated to understand the factors leading to the decline in asset turnover.

It is important for Asbury Automotive Group Inc to closely monitor its total asset turnover ratio over time to ensure that the company is effectively managing its assets to generate revenue. Comparing this ratio to industry benchmarks can also provide valuable insights into the company's operational efficiency.