Blackline Inc (BL)

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	583,654	567,879	551,446	535,362	517,277	494,103	454,609	414,043	371,779	352,163	343,114	334,191	333,571	318,119	305,795	297,928	285,842	267,900	254,715	240,505
Total assets	US$ in thousands	2,100,760	2,016,140	1,975,370	1,932,650	1,943,660	1,877,660	1,873,570	1,870,230	1,817,580	1,750,390	1,732,070	1,708,800	1,113,500	1,046,760	1,033,250	1,011,370	1,014,550	975,639	523,502	504,953
Total asset turnover		0.28	0.28	0.28	0.28	0.27	0.26	0.24	0.22	0.20	0.20	0.20	0.20	0.30	0.30	0.30	0.29	0.28	0.27	0.49	0.48

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $583,654K ÷ $2,100,760K
= 0.28

The total asset turnover ratio of Blackline Inc has been relatively stable around 0.20 to 0.30 for the past five years. This indicates that the company generates approximately 20 to 30 cents in revenue for every dollar of assets it holds. The slight increase in total asset turnover from 0.27 in December 2019 to 0.28 in December 2023 suggests a modest improvement in the company's efficiency in utilizing its assets to generate sales. Overall, Blackline Inc's total asset turnover ratio demonstrates consistent operational efficiency in generating revenue relative to its asset base over the past five years.