Expeditors International of Washington Inc (EXPD)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	9,280,370	17,046,400	16,511,700	10,091,100	8,166,180
Total assets	US$ in thousands	4,523,810	5,590,430	7,609,930	4,927,500	3,691,880
Total asset turnover		2.05	3.05	2.17	2.05	2.21

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $9,280,370K ÷ $4,523,810K
= 2.05

Expeditors International Of Washington, Inc.'s total asset turnover ratio has fluctuated over the past five years, ranging from a low of 2.05 in 2020 to a high of 3.05 in 2022. The company's ability to generate sales revenue relative to its total assets improved significantly in 2022 but then declined in 2023 to 2.06.

A total asset turnover ratio of 2.06 in 2023 indicates that, for every dollar of total assets, Expeditors generated $2.06 in sales revenue. This suggests that the company efficiently utilizes its assets to generate revenue. However, it is essential to consider other factors such as industry norms and the company's specific business model to gain a more comprehensive understanding of its asset management efficiency.