CH Robinson Worldwide Inc (CHRW)

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	17,596,450	18,441,380	20,115,730	22,492,350	24,696,630	26,131,660	26,379,980	25,114,230	23,102,150	21,149,750	19,110,850	17,205,970	16,207,110	15,450,990	15,082,320	15,363,310	15,309,510	15,654,090	12,492,004	9,254,647
Total assets	US$ in thousands	5,225,280	5,317,670	5,405,260	5,595,580	5,954,560	6,795,530	7,457,440	7,521,340	7,028,110	6,602,610	5,906,560	5,596,620	5,144,260	5,074,840	4,825,690	4,848,320	4,641,060	4,636,550	4,684,110	4,697,440
Total asset turnover		3.37	3.47	3.72	4.02	4.15	3.85	3.54	3.34	3.29	3.20	3.24	3.07	3.15	3.04	3.13	3.17	3.30	3.38	2.67	1.97

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $17,596,450K ÷ $5,225,280K
= 3.37

The total asset turnover ratio for C.H. Robinson Worldwide, Inc. has displayed fluctuating trends over the past eight quarters. The ratio indicates how efficiently the company is utilizing its assets to generate revenue.

In Q1 2023, the total asset turnover ratio was at its highest with a value of 4.02, signifying that the company generated $4.02 in revenue for every dollar of assets. This suggests a high level of asset efficiency during that period.

However, in Q2 2023, the ratio decreased to 3.72, followed by a further decline in Q3 2023 to 3.47, and a slight drop to 3.37 in Q4 2023. This downward trend in the total asset turnover ratio could indicate that the company's asset utilization efficiency weakened during these quarters.

Comparing the current ratios to the same quarters in the previous year, we see a gradual decline from Q1 2022 to Q4 2022, with a low point of 3.34 in Q1 2022. The ratio then improved, reaching 3.54 in Q2 2022, followed by 3.85 in Q3 2022, peaked at 4.15 in Q4 2022.

Overall, C.H. Robinson Worldwide, Inc.'s total asset turnover has shown fluctuations but generally remains at a relatively high level. It is essential for the company to monitor and manage its asset turnover to ensure efficient utilization of resources for revenue generation.