Amgen Inc (AMGN)

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	25,976,000	18,426,000	18,462,000	18,381,000	18,649,000	51,099,000	51,147,000	51,407,000	51,365,000	25,471,000	25,484,000	25,164,000	25,424,000	24,987,000	24,301,000	23,966,000	23,362,000	23,395,000	23,562,000	23,750,000
Total assets	US$ in thousands	97,154,000	90,534,000	90,269,000	88,720,000	65,121,000	63,700,000	59,294,000	59,196,000	61,165,000	64,993,000	59,773,000	62,539,000	62,948,000	64,637,000	65,011,000	61,669,000	59,707,000	59,535,000	59,373,000	63,997,000
Total asset turnover		0.27	0.20	0.20	0.21	0.29	0.80	0.86	0.87	0.84	0.39	0.43	0.40	0.40	0.39	0.37	0.39	0.39	0.39	0.40	0.37

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $25,976,000K ÷ $97,154,000K
= 0.27

The total asset turnover ratio for AMGEN Inc. for the past eight quarters has shown a decreasing trend from 0.44 in Q1 2022 to 0.29 in Q4 2023. This ratio indicates that the company is generating $0.29-$0.44 in revenue for every dollar of total assets it holds. The decreasing trend suggests that the company may be becoming less efficient in generating sales from its assets over time. Further analysis is recommended to understand the reasons behind this trend and to identify potential areas for improvement in asset utilization to enhance overall performance.