Abbott Laboratories (ABT)

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	39,431,000	39,324,000	39,587,000	40,914,000	43,093,000	44,485,000	45,026,000	43,990,000	42,541,000	41,768,000	39,700,000	36,806,000	34,070,000	31,814,000	30,993,000	31,613,000	31,389,000	30,840,000	30,313,000	30,061,000
Total assets	US$ in thousands	73,214,000	72,090,000	73,354,000	73,794,000	74,438,000	72,801,000	74,202,000	74,007,000	75,196,000	73,795,000	73,269,000	72,785,000	72,548,000	69,043,000	68,776,000	66,777,000	67,887,000	68,539,000	68,427,000	67,610,000
Total asset turnover		0.54	0.55	0.54	0.55	0.58	0.61	0.61	0.59	0.57	0.57	0.54	0.51	0.47	0.46	0.45	0.47	0.46	0.45	0.44	0.44

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $39,431,000K ÷ $73,214,000K
= 0.54

Abbott Laboratories' total asset turnover has remained relatively stable in recent quarters, ranging from 0.55 to 0.56. This indicates that the company generates approximately $0.55 to $0.56 in sales for every $1 of total assets it holds. The decline in total asset turnover from 0.59 in Q4 2022 to 0.55 in Q4 2023 suggests a decrease in efficiency in utilizing its assets to generate revenue. However, the consistency in total asset turnover over the other quarters of 2023 shows a certain level of operational stability. Further analysis is needed to understand the reasons behind the fluctuations and to assess the overall effectiveness of Abbott Laboratories in leveraging its assets to generate sales.