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

Company name
Symbol
Total asset turnover
Quest Diagnostics Incorporated
DGX
0.65
Fulgent Genetics Inc
FLGT
0.23
Laboratory Corporation of America Holdings
LH
0.77
RadNet Inc
RDNT
0.60