Adient PLC (ADNT)

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	15,356,000	15,395,000	15,316,000	14,746,000	14,340,000	14,121,000	13,242,000	12,999,000	13,312,000	13,680,000	14,506,000	12,890,000	12,582,000	12,670,000	12,994,000	15,587,000	16,304,000	16,526,000	16,750,000	17,025,000
Total assets	US$ in thousands	9,297,000	9,424,000	9,482,000	9,479,000	9,273,000	9,158,000	9,315,000	9,854,000	10,719,000	10,778,000	9,804,000	9,975,000	10,544,000	10,261,000	9,619,000	10,646,000	10,364,000	10,342,000	10,574,000	10,574,000
Total asset turnover		1.65	1.63	1.62	1.56	1.55	1.54	1.42	1.32	1.24	1.27	1.48	1.29	1.19	1.23	1.35	1.46	1.57	1.60	1.58	1.61

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $15,356,000K ÷ $9,297,000K
= 1.65

Total asset turnover is a key financial ratio that reflects how efficiently a company utilizes its assets to generate revenue. For Adient plc, the total asset turnover has been fairly stable over the past quarters, ranging from 1.32 in Q2 2022 to 1.65 in Q1 2024.

The increasing trend in total asset turnover indicates that Adient plc has been able to generate more revenue for each unit of assets invested, showcasing improved asset efficiency. This could be attributed to effective asset management strategies or revenue growth outpacing asset growth.

Overall, the consistent and relatively high total asset turnover for Adient plc suggests solid operational efficiency and effective utilization of assets to drive revenue generation. It is a positive indicator of the company's ability to leverage its assets effectively to support its business activities.