CarGurus (CARG)
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 | 917,072 | 980,534 | 1,187,569 | 1,459,061 | 1,657,093 | 1,707,547 | 1,504,008 | 1,210,527 | 951,422 | 763,580 | 688,137 | 565,126 | 551,498 | 558,153 | 561,143 | 611,437 | 589,749 | 557,686 | 526,266 | 491,560 |
| Total assets | US$ in thousands | 918,927 | 1,048,720 | 1,040,320 | 1,051,580 | 927,102 | 982,855 | 1,009,710 | 945,805 | 931,574 | 819,917 | 784,205 | 719,393 | 502,298 | 460,551 | 407,436 | 406,438 | 393,623 | 369,383 | 346,161 | 331,927 |
| Total asset turnover | 1.00 | 0.93 | 1.14 | 1.39 | 1.79 | 1.74 | 1.49 | 1.28 | 1.02 | 0.93 | 0.88 | 0.79 | 1.10 | 1.21 | 1.38 | 1.50 | 1.50 | 1.51 | 1.52 | 1.48 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $917,072K ÷ $918,927K
= 1.00
The total asset turnover ratio of CarGurus Inc has exhibited fluctuations over the past eight quarters. The ratio measures the company's ability to generate revenue from its total assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate sales.
In Q4 2023, the total asset turnover ratio was 0.99, which decreased compared to the previous quarter. This suggests that the company generated slightly less revenue for each dollar of assets it possessed in Q4.
In the previous quarters, the total asset turnover ratio showed a mixed pattern. In Q3 and Q2 2023, the ratio was 0.93 and 1.14 respectively, indicating a decrease and then an increase in asset efficiency. The ratio peaked at 1.38 in Q1 2023, signaling that the company was highly effective in generating revenue from its assets during that period.
Comparing the recent performance to the previous year, there has been a notable decline in the total asset turnover ratio. In Q4 2022, the ratio was 1.79, significantly higher than the current quarters. This suggests that CarGurus Inc may have experienced challenges in efficiently utilizing its assets to generate revenue in the most recent quarters.
Overall, the total asset turnover ratio of CarGurus Inc has shown variability in recent quarters, indicating fluctuations in the company's ability to efficiently generate sales from its total assets. Further analysis and monitoring of this ratio may be necessary to assess the company's asset management strategies and operational efficiency.
Peer comparison
Dec 31, 2023