Allegion PLC (ALLE)

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	3,553,800	3,529,000	3,524,800	3,385,400	3,186,000	3,072,600	2,875,900	2,849,700	2,820,400	2,833,700	2,845,100	2,687,700	2,668,100	2,621,500	2,641,400	2,783,100	2,763,400	2,783,600	2,746,800	2,720,300
Total assets	US$ in thousands	4,311,500	4,183,100	4,163,800	4,124,400	3,991,200	3,943,300	3,653,700	3,007,600	3,051,000	3,116,700	3,060,100	2,947,900	3,069,400	3,027,700	2,833,900	2,757,700	2,967,200	2,865,400	2,849,300	2,800,800
Total asset turnover		0.82	0.84	0.85	0.82	0.80	0.78	0.79	0.95	0.92	0.91	0.93	0.91	0.87	0.87	0.93	1.01	0.93	0.97	0.96	0.97

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,553,800K ÷ $4,311,500K
= 0.82

Allegion plc's total asset turnover has shown some fluctuation over the past eight quarters, ranging from a low of 0.79 in Q3 2022 to a high of 0.87 in Q2 2023. Overall, the company's total asset turnover has been relatively stable, with a mean value of approximately 0.84. This indicates that Allegion is generating sales revenue in relation to its total assets at a consistent pace, with each dollar of assets generating around $0.84 to $0.87 in sales revenue. A total asset turnover ratio below 1 suggests that the company is not efficiently utilizing its assets to generate revenue, but the company's ratios are in line with industry norms. It is important for Allegion to continue monitoring and managing its asset turnover to ensure optimal asset utilization for profitability and growth.