Albemarle Corp (ALB)

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	9,617,200	9,882,020	9,663,220	8,772,620	7,320,100	5,593,324	4,332,090	3,626,396	3,327,957	3,312,900	3,229,202	3,219,355	3,128,909	3,242,326	3,375,205	3,496,208	3,589,427	3,518,562	3,416,563	3,385,385
Total assets	US$ in thousands	18,270,700	18,883,400	19,109,700	17,564,400	15,456,500	13,828,500	12,520,400	11,416,100	10,974,100	10,832,300	10,796,900	10,290,300	10,450,900	10,232,000	10,170,300	9,847,640	9,860,860	8,141,600	8,094,410	7,871,060
Total asset turnover		0.53	0.52	0.51	0.50	0.47	0.40	0.35	0.32	0.30	0.31	0.30	0.31	0.30	0.32	0.33	0.36	0.36	0.43	0.42	0.43

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,617,200K ÷ $18,270,700K
= 0.53

Albemarle Corp.'s total asset turnover has shown a consistent increasing trend over the past eight quarters. The ratio has steadily improved from 0.32 in Q1 2022 to 0.53 in Q4 2023, indicating the efficiency with which the company generates revenue relative to its total assets has been on an upward trajectory. This upward trend suggests that Albemarle has been effectively utilizing its assets to generate sales and potentially indicates improvements in operational efficiency, asset management, or sales strategies. Overall, the increasing total asset turnover is a positive indicator of the company's operational performance and effectiveness in generating revenue from its asset base.