BorgWarner Inc (BWA)

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	15,825,000	16,484,000	16,848,000	16,082,000	15,805,000	15,319,000	14,706,000	14,749,000	14,878,000	15,140,000	14,258,000	11,904,000	10,171,000	8,803,000	8,757,000	9,881,000	10,168,000	10,183,000	10,169,000	10,312,000
Total assets	US$ in thousands	14,453,000	14,104,000	17,317,000	17,117,000	16,994,000	16,077,000	16,144,000	16,678,000	16,575,000	16,491,000	16,863,000	15,971,000	16,029,000	10,892,000	10,337,000	9,502,000	9,702,000	10,199,000	10,231,000	10,104,000
Total asset turnover		1.09	1.17	0.97	0.94	0.93	0.95	0.91	0.88	0.90	0.92	0.85	0.75	0.63	0.81	0.85	1.04	1.05	1.00	0.99	1.02

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $15,825,000K ÷ $14,453,000K
= 1.09

The total asset turnover ratio of BorgWarner Inc has shown some fluctuations over the last eight quarters. The ratio ranged from 0.88 to 1.16 during this period. In general, a higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets.

The ratio was relatively stable in the range of 0.91 to 0.98 during the first half of 2022 but showed a significant increase in Q3 2023 to 1.16. This suggests that the company was able to generate more sales relative to its total assets during that period.

However, the ratio decreased in Q4 2023 to 0.98, indicating a lower efficiency in utilizing its assets to generate revenue compared to the previous quarter. Overall, BorgWarner Inc's total asset turnover ratio reflects some variability but generally indicates a moderate efficiency in asset utilization to generate sales revenue.