Ametek Inc (AME)

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	6,515,160	6,411,040	6,338,130	6,204,940	6,067,350	5,947,930	5,836,590	5,708,290	5,466,130	5,162,380	4,847,940	4,471,293	4,594,993	4,720,333	4,869,893	5,148,580	5,093,120	5,059,630	4,977,880	4,898,090
Total assets	US$ in thousands	15,023,500	13,093,400	12,839,900	12,616,000	12,431,100	12,038,900	11,985,000	11,972,000	11,898,200	11,679,700	11,755,300	10,579,900	10,357,500	10,433,400	10,311,200	10,601,900	9,844,560	9,219,710	9,069,600	8,891,480
Total asset turnover		0.43	0.49	0.49	0.49	0.49	0.49	0.49	0.48	0.46	0.44	0.41	0.42	0.44	0.45	0.47	0.49	0.52	0.55	0.55	0.55

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,515,160K ÷ $15,023,500K
= 0.43

From the data provided, we observe that Ametek Inc's total asset turnover ratio has fluctuated over the past eight quarters. The total asset turnover ratio is a measure of how efficiently a company generates sales revenue from its assets. A higher ratio indicates that the company is using its assets more effectively to generate revenue.

In Q4 2023, Ametek Inc's total asset turnover ratio was 0.44, which indicates that the company generated $0.44 in sales revenue for every $1 of total assets. This ratio increased in Q3 2023 to 0.50, but remained consistent at 0.50 in Q2 2023 and Q1 2023. This suggests that in those quarters, the company was relatively efficient in utilizing its assets to generate sales.

Comparing the recent quarters to the same periods in the previous year, we can see that the total asset turnover ratio has been fairly stable around 0.49 to 0.50. This indicates that Ametek Inc has been maintaining a consistent level of asset efficiency in generating revenue.

Overall, while there have been fluctuations in the total asset turnover ratio, Ametek Inc has generally been effectively utilizing its assets to generate sales revenue, which is a positive sign for the company's operational efficiency.