Atmos Energy Corporation (ATO)

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	3,949,815	4,275,355	4,410,341	4,564,037	4,672,887	4,201,667	4,047,423	3,836,547	3,505,797	3,407,487	3,314,017	3,201,459	2,860,054	2,821,137	2,789,906	2,782,649	2,899,624	2,901,843	2,902,860	2,979,367
Total assets	US$ in thousands	23,684,200	22,517,000	21,771,500	21,311,900	23,366,200	22,193,000	21,655,500	21,271,100	20,545,800	19,608,700	19,315,400	19,408,800	16,475,900	15,359,000	14,871,000	14,716,400	14,388,100	13,367,600	12,881,100	12,675,000
Total asset turnover		0.17	0.19	0.20	0.21	0.20	0.19	0.19	0.18	0.17	0.17	0.17	0.16	0.17	0.18	0.19	0.19	0.20	0.22	0.23	0.24

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,949,815K ÷ $23,684,200K
= 0.17

The total asset turnover ratio for Atmos Energy Corp. has been relatively stable over the past eight quarters, ranging from 0.17 to 0.21. This ratio indicates the company's efficiency in generating sales revenue relative to its total assets. A higher total asset turnover ratio suggests that the company is generating more revenue per dollar of assets.

Atmos Energy Corp.'s total asset turnover ratio has shown a slight fluctuation within a narrow range, indicating a consistent level of efficiency in utilizing its assets to generate revenue. However, there has not been a significant trend or notable improvement in this ratio over the period analyzed. This suggests that the company's asset utilization in generating sales revenue has remained relatively steady.