Armstrong World Industries Inc (AWI)

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	1,247,800	1,275,800	1,255,300	1,254,300	1,230,300	1,201,100	1,169,200	1,128,400	1,097,100	1,040,000	994,100	917,000	912,800	958,000	983,200	1,048,400	1,038,100	987,800	973,000	949,300
Total assets	US$ in thousands	1,672,400	1,713,800	1,712,300	1,687,900	1,687,200	1,739,400	1,734,000	1,708,100	1,710,000	1,704,900	1,716,700	1,715,300	1,718,500	1,633,700	1,544,300	1,590,300	1,493,300	1,509,700	1,890,000	1,942,600
Total asset turnover		0.75	0.74	0.73	0.74	0.73	0.69	0.67	0.66	0.64	0.61	0.58	0.53	0.53	0.59	0.64	0.66	0.70	0.65	0.51	0.49

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,247,800K ÷ $1,672,400K
= 0.75

The total asset turnover of Armstrong World Industries Inc. has been relatively stable over the past eight quarters, ranging from 0.67 to 0.77. This ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher total asset turnover ratio suggests that the company is using its assets more efficiently to generate sales.

Armstrong World Industries Inc. has shown a positive trend in total asset turnover over the past two years, with a gradual increase from 0.67 in Q1 2022 to 0.77 in Q4 2023. This improvement signifies that the company has been able to generate more revenue for each dollar of assets it holds.

Overall, Armstrong World Industries Inc. appears to be effectively managing its assets and generating revenue efficiently. The increasing trend in the total asset turnover ratio reflects positively on the company's operational efficiency and potential for future growth. It is essential for investors and analysts to continue monitoring this ratio to assess the company's ability to utilize its assets effectively in driving sales and profitability.