Bristol-Myers Squibb Company (BMY)

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	45,006,000	44,935,000	45,187,000	45,848,000	46,159,000	46,738,000	47,144,000	46,960,000	46,385,000	45,468,000	44,384,000	42,810,000	42,518,000	39,395,000	34,862,000	31,006,000	26,145,000	24,173,000	23,857,000	23,288,000
Total assets	US$ in thousands	95,159,000	91,263,000	93,489,000	94,281,000	96,820,000	98,196,000	100,357,000	103,034,000	109,314,000	110,893,000	110,797,000	112,435,000	118,481,000	125,536,000	128,076,000	129,285,000	129,944,000	57,433,000	55,163,000	34,834,000
Total asset turnover		0.47	0.49	0.48	0.49	0.48	0.48	0.47	0.46	0.42	0.41	0.40	0.38	0.36	0.31	0.27	0.24	0.20	0.42	0.43	0.67

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $45,006,000K ÷ $95,159,000K
= 0.47

The total asset turnover ratio for Bristol-Myers Squibb Co. has shown relatively stable performance over the past eight quarters, fluctuating within a narrow range of 0.46 to 0.49. This indicates that the company is generating sales in relation to its total assets at a consistent level. A total asset turnover below 1.0 suggests that Bristol-Myers Squibb is not efficiently utilizing its assets to generate revenue, which could be attributed to factors such as underutilization of assets or excessive levels of assets on its balance sheet. However, the stability of the ratio suggests that the company may have a stable asset base and a consistent level of sales generation efficiency. Further analysis incorporating other financial metrics and industry benchmarks would be beneficial to gain a more comprehensive understanding of Bristol-Myers Squibb Co.'s overall operational efficiency and asset management capabilities.