Chemed Corp (CHE)

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	2,264,417	2,225,159	2,187,099	2,164,571	2,134,963	2,129,287	2,141,482	2,142,450	2,139,261	2,131,572	2,121,202	2,091,145	2,079,583	2,068,618	2,020,934	1,992,319	1,938,555	1,873,739	1,837,277	1,805,506
Total assets	US$ in thousands	1,668,100	1,562,080	1,505,180	1,431,180	1,442,010	1,356,200	1,312,960	1,305,760	1,342,720	1,318,130	1,383,800	1,458,130	1,434,910	1,366,950	1,291,190	1,277,560	1,268,320	1,232,580	1,094,070	1,069,830
Total asset turnover		1.36	1.42	1.45	1.51	1.48	1.57	1.63	1.64	1.59	1.62	1.53	1.43	1.45	1.51	1.57	1.56	1.53	1.52	1.68	1.69

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,264,417K ÷ $1,668,100K
= 1.36

Chemed Corp.'s total asset turnover has been declining gradually over the past eight quarters, from a high of 1.64 in Q1 2022 to 1.36 in Q4 2023. This ratio indicates that the company generated $1.36 in revenue for every dollar of total assets in Q4 2023. While the decrease in total asset turnover may suggest reduced efficiency in asset utilization or declining sales relative to the size of the asset base, it is important to consider other factors such as changes in sales volume, asset base composition, or industry dynamics that may be influencing this trend. Further analysis and comparison with industry benchmarks are needed to fully assess the implications of Chemed Corp.'s total asset turnover performance.