AptarGroup Inc (ATR)

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	3,487,450	3,444,884	3,388,747	3,337,384	3,322,249	3,340,328	3,328,910	3,295,399	3,227,221	3,162,557	3,096,268	2,984,541	2,929,340	2,851,344	2,793,469	2,836,825	2,859,732	2,873,427	2,837,924	2,805,871
Total assets	US$ in thousands	4,451,890	4,298,220	4,347,710	4,302,800	4,203,460	4,026,470	4,258,110	4,407,450	4,141,360	4,131,480	4,110,100	3,992,640	3,990,050	3,861,750	3,814,020	3,776,550	3,562,120	3,465,140	3,588,720	3,415,630
Total asset turnover		0.78	0.80	0.78	0.78	0.79	0.83	0.78	0.75	0.78	0.77	0.75	0.75	0.73	0.74	0.73	0.75	0.80	0.83	0.79	0.82

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,487,450K ÷ $4,451,890K
= 0.78

The total asset turnover for Aptargroup Inc. has ranged from 0.75 to 0.83 over the past eight quarters. Generally, a higher total asset turnover indicates that the company is generating more revenue for each dollar invested in assets, reflecting efficiency in asset utilization.

Aptargroup Inc. has maintained a relatively consistent total asset turnover around the 0.78 to 0.80 range in recent quarters, signaling a stable level of asset utilization. However, there was a slight decline in Q1 2022 to 0.75 and a peak in Q3 2022 at 0.83, suggesting fluctuations in the company's ability to generate sales from its assets during those periods.

Overall, Aptargroup Inc. appears to be effectively managing its assets to generate revenue, although there may be opportunities for further improvement in optimizing asset turnover efficiency. Additional analysis of the company's operating performance and industry benchmarks can provide a more in-depth perspective on the efficiency of Aptargroup Inc.'s asset utilization.