Deluxe Corporation (DLX)

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	2,192,259	2,218,899	2,236,093	2,227,360	2,238,010	2,244,581	2,221,684	2,136,947	2,022,196	1,906,113	1,813,433	1,745,622	1,790,781	1,858,360	1,912,492	1,996,073	2,008,715	2,011,321	2,010,918	2,005,176
Total assets	US$ in thousands	3,080,620	2,884,670	2,923,020	2,940,910	3,076,520	2,957,320	2,940,390	2,954,310	3,074,380	3,006,190	3,017,480	1,893,250	1,842,180	2,007,180	2,060,080	2,044,540	1,943,310	1,888,960	2,314,040	2,322,410
Total asset turnover		0.71	0.77	0.76	0.76	0.73	0.76	0.76	0.72	0.66	0.63	0.60	0.92	0.97	0.93	0.93	0.98	1.03	1.06	0.87	0.86

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,192,259K ÷ $3,080,620K
= 0.71

Deluxe Corp.'s total asset turnover for the past eight quarters has shown some fluctuations but generally remained within a range of 0.71 to 0.77. This ratio indicates how efficiently the company is using its assets to generate revenue. A total asset turnover ratio of less than 1 suggests that the company is not generating enough sales relative to its assets, potentially indicating underutilization or inefficiency in asset use. Deluxe Corp.'s total asset turnover has hovered around the 0.75 mark, indicating that it is generating approximately $0.75 of revenue for every dollar of assets. This implies a moderate level of asset efficiency. Further analysis and comparison with industry peers may provide additional insights into Deluxe Corp.'s asset utilization performance.