Cleveland-Cliffs Inc (CLF)
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 | 21,996,000 | 21,928,000 | 21,976,000 | 22,329,000 | 22,989,000 | 23,291,000 | 23,642,000 | 22,350,000 | 20,444,000 | 17,354,000 | 12,996,000 | 9,044,000 | 5,354,000 | 3,632,100 | 2,541,700 | 2,191,900 | 1,989,900 | 2,152,100 | 2,338,300 | 2,309,400 |
| Total assets | US$ in thousands | 17,537,000 | 18,059,000 | 18,303,000 | 18,652,000 | 18,755,000 | 19,688,000 | 20,039,000 | 19,768,000 | 18,975,000 | 18,066,000 | 17,746,000 | 17,215,000 | 16,771,000 | 8,480,900 | 8,490,700 | 8,912,300 | 3,504,000 | 3,491,200 | 3,393,200 | 3,306,300 |
| Total asset turnover | 1.25 | 1.21 | 1.20 | 1.20 | 1.23 | 1.18 | 1.18 | 1.13 | 1.08 | 0.96 | 0.73 | 0.53 | 0.32 | 0.43 | 0.30 | 0.25 | 0.57 | 0.62 | 0.69 | 0.70 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $21,996,000K ÷ $17,537,000K
= 1.25
The total asset turnover of Cleveland-Cliffs Inc has been relatively stable over the last eight quarters, ranging from 1.13 to 1.25. This indicates that the company is generating, on average, between $1.13 and $1.25 in revenue for every dollar of total assets it owns. A higher total asset turnover ratio is generally preferred, as it suggests that the company is efficiently utilizing its assets to generate sales. However, it is essential to consider industry norms and compare this ratio to peers to gain a more comprehensive understanding of Cleveland-Cliffs Inc's performance in terms of asset utilization.
Peer comparison
Dec 31, 2023