Quest Diagnostics Incorporated (DGX)
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 | 9,100,000 | 9,153,000 | 9,351,000 | 9,467,000 | 9,745,000 | 10,142,000 | 10,425,000 | 10,520,000 | 10,628,000 | 10,932,000 | 10,982,000 | 10,297,000 | 9,437,000 | 8,361,000 | 7,531,000 | 7,657,000 | 7,726,000 | 7,639,000 | 7,572,000 | 7,538,000 |
| Total assets | US$ in thousands | 14,022,000 | 13,482,000 | 13,425,000 | 12,794,000 | 12,837,000 | 13,223,000 | 13,312,000 | 13,442,000 | 13,611,000 | 13,572,000 | 12,861,000 | 13,931,000 | 14,026,000 | 14,143,000 | 12,990,000 | 12,049,000 | 12,843,000 | 12,019,000 | 11,760,000 | 11,937,000 |
| Total asset turnover | 0.65 | 0.68 | 0.70 | 0.74 | 0.76 | 0.77 | 0.78 | 0.78 | 0.78 | 0.81 | 0.85 | 0.74 | 0.67 | 0.59 | 0.58 | 0.64 | 0.60 | 0.64 | 0.64 | 0.63 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,100,000K ÷ $14,022,000K
= 0.65
Quest Diagnostics, Inc.'s total asset turnover has been exhibiting a declining trend in recent quarters, decreasing from 0.77 in Q4 2022 to 0.66 in Q4 2023. This indicates that the company generated $0.66 in revenue for every dollar of assets it had in Q4 2023. While the ratio has fluctuated slightly between 0.66 and 0.79 over the past eight quarters, it generally suggests that Quest Diagnostics may not be efficiently utilizing its assets to generate revenue. Further analysis of the company's operations and asset management strategies may be necessary to improve this key financial metric.
Peer comparison
Dec 31, 2023