American Axle & Manufacturing (AXL)

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	6,082,900	5,993,300	5,982,700	5,857,600	5,803,400	5,698,900	5,340,500	5,177,100	5,158,900	5,356,300	5,579,500	4,808,200	4,722,100	4,702,800	4,965,800	6,209,400	6,644,200	6,735,600	6,934,600	7,131,200
Total assets	US$ in thousands	5,356,300	5,475,000	5,507,400	5,452,900	5,469,400	5,679,600	5,768,700	5,725,000	5,635,700	5,642,500	5,844,900	5,936,900	5,916,300	5,942,100	6,055,000	6,186,700	6,644,600	7,316,300	7,547,900	7,615,500
Total asset turnover		1.14	1.09	1.09	1.07	1.06	1.00	0.93	0.90	0.92	0.95	0.95	0.81	0.80	0.79	0.82	1.00	1.00	0.92	0.92	0.94

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,082,900K ÷ $5,356,300K
= 1.14

American Axle & Manufacturing Holdings Inc's total asset turnover has shown a relatively stable performance in recent quarters. The company's ability to generate sales from its total assets has improved gradually from 0.90 in Q1 2022 to 1.14 in Q4 2023. This indicates that the company is becoming more efficient in utilizing its assets to generate revenue. The consistent increase in total asset turnover over the past eight quarters suggests that American Axle is effectively managing its asset base and maximizing its operational efficiency. This improvement is a positive sign for investors and stakeholders as it reflects the company's ability to generate more sales with the same level of assets, potentially leading to improved profitability in the future.