Adapthealth Corp (AHCO)

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	3,071,305	2,996,410	2,952,637	2,893,848	2,862,561	2,123,026	2,015,922	1,899,702	1,673,661	1,677,361	1,322,838	961,338	689,118	816,705	675,717	560,602	488,217	638,679	615,140	572,856
Total assets	US$ in thousands	4,508,650	4,725,250	5,203,010	5,283,440	5,219,590	5,237,980	5,202,010	5,204,340	5,250,480	5,191,720	4,687,660	4,520,070	1,813,470	1,556,270	742,467	665,004	546,538	256,627	255,866	255,231
Total asset turnover		0.68	0.63	0.57	0.55	0.55	0.41	0.39	0.37	0.32	0.32	0.28	0.21	0.38	0.52	0.91	0.84	0.89	2.49	2.40	2.24

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,071,305K ÷ $4,508,650K
= 0.68

AdaptHealth Corp's total asset turnover has been showing a positive trend over the past eight quarters, increasing from 0.51 in Q1 2022 to 0.71 in Q4 2023. This indicates an improvement in the company's ability to generate revenue for each dollar of assets employed. A higher total asset turnover ratio is generally favorable as it signifies that the company is efficiently utilizing its assets to generate sales. The consistent increase in total asset turnover ratio suggests that AdaptHealth Corp has been effectively managing and utilizing its assets to drive revenue growth. It also indicates that the company has been able to efficiently convert its investments in assets into sales, reflecting a strong operational performance and potential for profitability.