CVS Health Corp (CVS)
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 | 357,776,000 | 347,809,000 | 339,204,000 | 330,919,000 | 322,467,000 | 315,225,000 | 307,860,000 | 299,840,000 | 292,111,000 | 285,061,000 | 278,323,000 | 271,048,000 | 268,706,000 | 266,041,000 | 263,795,000 | 261,885,000 | 256,776,000 | 244,311,000 | 226,991,000 | 210,482,000 |
| Total assets | US$ in thousands | 249,728,000 | 251,306,000 | 250,071,000 | 239,330,000 | 228,275,000 | 231,212,000 | 230,279,000 | 232,873,000 | 232,999,000 | 234,891,000 | 231,164,000 | 229,606,000 | 230,715,000 | 232,898,000 | 235,495,000 | 230,639,000 | 222,449,000 | 220,113,000 | 218,904,000 | 219,768,000 |
| Total asset turnover | 1.43 | 1.38 | 1.36 | 1.38 | 1.41 | 1.36 | 1.34 | 1.29 | 1.25 | 1.21 | 1.20 | 1.18 | 1.16 | 1.14 | 1.12 | 1.14 | 1.15 | 1.11 | 1.04 | 0.96 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $357,776,000K ÷ $249,728,000K
= 1.43
The total asset turnover of CVS Health Corp over the past eight quarters has shown consistent performance, ranging from 1.29 to 1.43. This ratio measures efficiency in utilizing the company's assets to generate sales revenue. A higher total asset turnover indicates that CVS Health Corp is generating more revenue per dollar of assets, reflecting efficient asset management.
The trend of total asset turnover indicates that CVS Health Corp has been effectively utilizing its assets to drive sales revenue, with slight fluctuations but generally maintaining a stable performance. The peak in Q4 2023 at 1.43 suggests improved efficiency in asset utilization compared to previous quarters.
Overall, the total asset turnover ratio of CVS Health Corp demonstrates a strong ability to generate revenue relative to its asset base, showcasing effectiveness in managing and utilizing its resources to drive sales.
Peer comparison
Dec 31, 2023