Cars.com Inc (CARS)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	658,830	618,556	584,954	509,647	575,908
Total assets	US$ in thousands	1,172,450	1,024,870	1,007,200	1,075,710	2,027,990
Total asset turnover		0.56	0.60	0.58	0.47	0.28

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $658,830K ÷ $1,172,450K
= 0.56

The total asset turnover ratio for Cars.com has shown fluctuations over the past five years. The ratio has ranged from 0.30 in 2019 to 0.64 in 2022, with the most recent value at 0.59 in 2023. This ratio measures the efficiency of the company in generating sales revenue relative to its total assets. A higher total asset turnover ratio indicates that the company is efficient in utilizing its assets to generate sales. The fluctuation in this ratio may suggest changes in the company's asset utilization or sales performance over the years, highlighting the importance of continuous monitoring and analysis of financial performance.