Colgate-Palmolive Company (CL)

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	19,457,000	19,136,000	18,676,000	18,338,000	17,967,000	17,741,000	17,700,000	17,476,000	17,421,000	17,342,000	17,081,000	16,718,000	16,471,000	16,162,000	15,937,000	15,906,000	15,693,000	15,489,000	15,406,000	15,426,000
Total assets	US$ in thousands	16,393,000	16,043,000	16,227,000	16,173,000	15,731,000	16,288,000	15,711,000	15,723,000	15,040,000	15,880,000	15,999,000	15,801,000	15,920,000	15,466,000	15,141,000	15,070,000	15,034,000	15,026,000	13,151,000	12,883,000
Total asset turnover		1.19	1.19	1.15	1.13	1.14	1.09	1.13	1.11	1.16	1.09	1.07	1.06	1.03	1.05	1.05	1.06	1.04	1.03	1.17	1.20

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $19,457,000K ÷ $16,393,000K
= 1.19

Colgate-Palmolive Co.'s total asset turnover has been relatively stable over the past eight quarters, ranging from 1.09 to 1.19. The total asset turnover ratio indicates the company's efficiency in generating sales revenue from its total assets.

A total asset turnover above 1 suggests that the company is generating more in sales compared to its total assets, which indicates efficient asset utilization. The fluctuations in the ratio could be attributed to changes in sales volume, asset base, or a combination of both.

However, it is important to further analyze the trend over a longer period and compare it with industry averages to gain a better perspective on the company's operational efficiency and asset management.