Avantor Inc (AVTR)

Total asset turnover

		Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	6,825,600	6,866,700	6,967,200	7,039,400	7,175,700	7,342,300	7,512,400	7,625,000	7,602,800	7,550,900	7,386,100	7,269,400	7,040,100	6,660,200	6,393,600	6,126,700	6,025,500	6,079,200
Total assets	US$ in thousands	12,693,500	12,763,400	12,972,700	12,798,100	13,063,300	13,395,900	13,464,300	13,113,300	13,430,900	13,836,400	13,897,200	12,199,200	11,249,700	9,738,800	9,906,500	9,938,400	9,867,000	9,786,200	9,773,300	9,763,100
Total asset turnover		0.54	0.54	0.54	0.55	0.55	0.55	0.56	0.58	0.57	0.55	0.53	0.60	0.63	0.68	0.65	0.62	0.61	0.62

June 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,825,600K ÷ $12,693,500K
= 0.54

Total asset turnover measures the efficiency with which a company utilizes its total assets to generate revenue. A higher total asset turnover indicates that the company is generating more revenue for each dollar of assets it holds.

Analyzing Avantor Inc's total asset turnover over the past few quarters, we see that it has been relatively stable around the range of 0.53 to 0.68. The average total asset turnover during this period is around 0.58.

From a trend perspective, there appears to be some fluctuation in the total asset turnover ratio, but it generally remains within a relatively consistent range. The ratio has shown some improvement from the end of 2021 through mid-2022, peaking at 0.68 before declining slightly.

Overall, a total asset turnover ratio of around 0.58 indicates that Avantor Inc is able to generate $0.58 of revenue for each dollar of assets it holds. This suggests that the company is efficient in utilizing its total assets to drive sales, although there may be opportunities for further optimization in asset utilization. Further analysis of the company's operations and industry benchmarks could provide more context on the efficiency of its asset management.