Expeditors International of Washington, Inc. (EXPD)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	10,600,510	9,923,580	9,113,450	8,914,200	9,300,110	10,463,870	12,636,020	14,999,580	17,071,290	19,026,100	18,983,210	17,988,990	16,523,510	14,296,360	12,325,810	11,127,800	9,830,840	8,706,590	8,432,740	8,057,240
Total assets	US$ in thousands	4,754,460	5,170,920	4,788,340	4,488,270	4,523,810	4,578,120	4,564,040	5,332,580	5,590,430	6,607,530	7,361,140	7,955,990	7,609,930	7,076,380	5,953,170	5,455,000	4,927,500	4,358,550	3,810,180	3,509,970
Total asset turnover		2.23	1.92	1.90	1.99	2.06	2.29	2.77	2.81	3.05	2.88	2.58	2.26	2.17	2.02	2.07	2.04	2.00	2.00	2.21	2.30

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $10,600,510K ÷ $4,754,460K
= 2.23

Expeditors International of Washington, Inc. has shown fluctuations in its total asset turnover ratio over the past few years. The ratio measures the efficiency of the company in generating sales from its total assets.

From March 31, 2020 to December 31, 2021, the total asset turnover ratio ranged between 2.00 to 2.26, indicating that the company was generating approximately $2 of sales for every dollar of assets during this period.

There was a significant increase in the total asset turnover ratio in the latter half of 2022 and throughout most of 2023, reaching a peak of 3.05 by December 31, 2022. This suggests that the company was able to generate higher sales relative to its total assets during this period.

However, from March 31, 2023 to December 31, 2024, there was a decline in the total asset turnover ratio, dropping to as low as 1.90 by June 30, 2024. This may indicate potential inefficiencies in asset utilization or a decrease in sales relative to the assets held by the company during this period.

Overall, the trend in Expeditors International of Washington, Inc.'s total asset turnover ratio shows fluctuations, with periods of both efficiency and inefficiency in generating sales from its total assets. A careful analysis of the underlying factors influencing these fluctuations would be necessary to understand the performance drivers of the company.