Becton Dickinson and Company (BDX)

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	19,492,000	19,372,000	19,046,000	18,809,000	18,738,000	18,870,000	18,958,000	18,924,000	19,081,000	19,678,000	19,613,000	18,861,000	18,207,000	17,117,000	16,917,000	17,412,000	17,354,000	17,289,000	17,107,000	17,035,000
Total assets	US$ in thousands	52,274,000	52,780,000	53,017,000	54,394,000	53,129,000	52,934,000	53,199,000	54,786,000	53,363,000	53,866,000	54,333,000	54,921,000	54,748,000	54,012,000	53,959,000	53,516,000	51,952,000	51,765,000	52,233,000	52,598,000
Total asset turnover		0.37	0.37	0.36	0.35	0.35	0.36	0.36	0.35	0.36	0.37	0.36	0.34	0.33	0.32	0.31	0.33	0.33	0.33	0.33	0.32

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $19,492,000K ÷ $52,274,000K
= 0.37

Becton Dickinson & Co.'s total asset turnover has remained relatively stable over the past eight quarters, ranging between 0.34 and 0.37. This ratio indicates that, on average, the company generates between $0.34 and $0.37 in revenue for every dollar of total assets held during the respective quarters.

A total asset turnover ratio of below 1 typically suggests that the company is not efficiently utilizing its assets to generate sales. In this case, Becton Dickinson & Co. has consistently shown a total asset turnover below 1, indicating the company may have excess assets in relation to its revenue generation.

It is important for investors and stakeholders to monitor this ratio over time to assess the company's operational efficiency and asset management. Fluctuations or trends in the total asset turnover ratio can provide insights into the company's financial health and performance in utilizing its assets effectively.