Danaher Corporation (DHR)

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	27,514,000	29,446,000	30,174,000	30,811,000	31,383,000	31,114,000	30,643,000	30,083,000	29,239,000	27,833,000	26,462,000	24,514,000	21,983,000	20,189,400	19,394,400	19,311,400	19,872,000	20,367,100	20,209,200	20,054,200
Total assets	US$ in thousands	84,488,000	87,734,000	84,902,000	85,040,000	84,350,000	81,030,000	81,806,000	83,392,000	83,184,000	82,498,000	78,027,000	75,426,000	76,161,000	72,890,700	71,268,400	68,930,300	62,082,000	61,531,100	53,322,000	51,774,400
Total asset turnover		0.33	0.34	0.36	0.36	0.37	0.38	0.37	0.36	0.35	0.34	0.34	0.33	0.29	0.28	0.27	0.28	0.32	0.33	0.38	0.39

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $27,514,000K ÷ $84,488,000K
= 0.33

The total asset turnover of Danaher Corp. has exhibited a declining trend over the past eight quarters, decreasing from 0.37 in Q4 2022 to 0.28 in Q4 2023. This indicates that the company's ability to generate revenue from its total assets has been weakening. Despite a temporary increase to 0.39 in Q3 2022, the overall downward trajectory suggests inefficiencies in asset utilization or a decrease in sales relative to the size of the asset base.

A total asset turnover ratio of less than 1 typically indicates that the company is not generating sufficient sales from its assets, which may point to issues such as excess inventory, underutilized assets, or poor sales performance. In the case of Danaher Corp., continual monitoring and analysis of the total asset turnover may be necessary to identify and address the underlying factors contributing to this decline and to enhance operational efficiency and profitability.