Expeditors International of Washington Inc (EXPD)

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	9,280,370	10,434,340	12,608,090	14,972,040	17,046,400	19,014,300	18,971,410	17,977,190	16,670,430	14,455,080	12,600,620	11,572,160	10,116,480	8,992,230	8,602,290	8,057,240	8,175,430	8,366,090	8,382,180	8,304,160
Total assets	US$ in thousands	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	3,691,880	3,706,450	3,646,990	3,642,910
Total asset turnover		2.05	2.28	2.76	2.81	3.05	2.88	2.58	2.26	2.19	2.04	2.12	2.12	2.05	2.06	2.26	2.30	2.21	2.26	2.30	2.28

December 31, 2023 calculation

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

Expeditors International Of Washington, Inc.'s total asset turnover ratio has shown fluctuations over the past eight quarters, ranging from a low of 2.06 in Q4 2023 to a high of 3.05 in Q4 2022. The total asset turnover ratio measures the efficiency with which the company is utilizing its assets to generate revenue. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets.

From the data provided, it appears that the company's total asset turnover ratio peaked in Q4 2022 at 3.05, showing efficient asset utilization to generate revenue. However, in the most recent quarter, Q4 2023, the total asset turnover ratio decreased to 2.06, signaling a decline in the efficiency of asset utilization.

It is important to consider the reasons behind these fluctuations in the total asset turnover ratio. A decreasing total asset turnover ratio could indicate that the company's sales are not growing at the same pace as its assets, which may raise concerns about the effectiveness of asset management. On the other hand, an increasing total asset turnover ratio could suggest that the company is managing its assets more efficiently and effectively to generate higher revenue.

Further analysis of the company's operations, industry trends, and market conditions is necessary to fully understand the implications of these fluctuations in Expeditors International Of Washington, Inc.'s total asset turnover ratio.