Elevance Health Inc (ELV)

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	171,340,000	168,622,000	165,712,000	160,672,000	156,595,000	153,247,000	149,130,000	144,349,000	138,639,000	133,882,000	129,218,000	124,631,000	121,867,000	117,450,000	112,966,000	109,168,000	104,213,000	100,179,000	96,756,000	94,234,000
Total assets	US$ in thousands	108,928,000	110,478,000	109,168,000	109,040,000	102,755,000	103,026,000	100,877,000	100,486,000	97,456,000	98,060,000	96,097,000	95,683,000	86,615,000	86,574,000	87,976,000	82,399,000	77,453,000	77,809,000	75,851,000	74,523,000
Total asset turnover		1.57	1.53	1.52	1.47	1.52	1.49	1.48	1.44	1.42	1.37	1.34	1.30	1.41	1.36	1.28	1.32	1.35	1.29	1.28	1.26

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $171,340,000K ÷ $108,928,000K
= 1.57

The total asset turnover ratio for Elevance Health Inc has displayed a consistent trend over the past eight quarters, ranging from 1.42 to 1.56. The ratio indicates the company's efficiency in generating sales revenue from its total assets.

On average, the company has been able to generate $1.50 of revenue for every dollar of total assets employed in its operations. This suggests that Elevance Health Inc has been effectively utilizing its assets to generate sales revenue.

The slight fluctuations in the ratio over the quarters may indicate variations in the company's operational efficiency or changes in its asset base. Overall, the trend suggests that Elevance Health Inc has been maintaining a steady level of asset utilization efficiency in driving its revenue generation.