Fortive Corp (FTV)

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	5,923,600	5,866,200	5,831,100	5,780,100	5,709,200	5,604,400	5,475,800	5,353,200	5,254,700	5,204,800	5,762,200	5,970,500	6,381,200	7,058,700	7,054,500	7,346,800	7,244,500	6,258,000	6,243,900	6,279,600
Total assets	US$ in thousands	16,911,800	15,664,400	15,730,700	15,804,800	15,890,600	15,893,100	16,070,900	16,266,400	16,465,500	14,976,100	14,495,500	14,278,900	16,051,500	17,199,700	16,705,700	16,931,700	17,439,000	16,660,400	16,468,100	15,656,200
Total asset turnover		0.35	0.37	0.37	0.37	0.36	0.35	0.34	0.33	0.32	0.35	0.40	0.42	0.40	0.41	0.42	0.43	0.42	0.38	0.38	0.40

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,923,600K ÷ $16,911,800K
= 0.35

The total asset turnover ratio for Fortive Corp has ranged between 0.33 and 0.38 over the past eight quarters. This ratio indicates how efficiently the company is generating revenues from its total assets. A higher total asset turnover ratio generally signifies that the company is utilizing its assets more effectively to generate sales.

In the case of Fortive Corp, the fluctuations in the total asset turnover ratio suggest some variability in the company's ability to generate sales relative to its asset base. The ratio peaked at 0.38 in Q3 2023 and Q2 2023, indicating that the company was able to generate more revenue per dollar of assets during those periods. However, the ratio declined slightly to 0.37 in Q1 2023, suggesting a slight decrease in asset efficiency in generating sales.

Overall, Fortive Corp's total asset turnover ratio has shown relative stability within a narrow range, indicating a consistent level of efficiency in using its assets to generate revenue. Further analysis and comparison against industry benchmarks could provide more insights into the company's asset utilization efficiency.