Berry Global Group Inc (BERY)

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	12,492,000	12,699,000	13,065,000	13,562,000	14,049,000	14,561,000	14,740,000	14,689,000	14,284,000	13,848,000	13,189,000	12,423,000	12,027,000	11,706,000	11,717,000	10,745,000	9,721,000	8,878,000	7,913,000	8,048,000
Total assets	US$ in thousands	16,144,000	16,587,000	16,549,000	16,613,000	16,451,000	16,956,000	16,885,000	17,535,000	17,341,000	17,882,000	17,577,000	17,263,000	17,176,000	16,701,000	16,731,000	16,949,000	17,024,000	16,469,000	8,809,000	8,984,000
Total asset turnover		0.77	0.77	0.79	0.82	0.85	0.86	0.87	0.84	0.82	0.77	0.75	0.72	0.70	0.70	0.70	0.63	0.57	0.54	0.90	0.90

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $12,492,000K ÷ $16,144,000K
= 0.77

Total asset turnover is a financial ratio that reflects a company's efficiency in generating sales revenue from its total assets. Berry Global Group Inc's total asset turnover has fluctuated over the past few years, ranging from 0.54 to 0.90. A total asset turnover of less than 1 indicates that the company is generating less in sales revenue compared to its total assets.

The trend of Berry Global Group Inc's total asset turnover shows a decline from 0.90 in the first quarter of 2019 to 0.77 in the fourth quarter of 2023. This suggests that the company's ability to efficiently utilize its assets to generate sales revenue has weakened over time.

While there were fluctuations in the total asset turnover ratio, the overall trend indicates a gradual decrease in efficiency in generating sales revenue from total assets. Management may need to closely examine the company's asset utilization strategies to improve efficiency and enhance overall financial performance.