Godaddy Inc (GDDY)

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	4,111,400	4,047,500	4,019,100	3,989,900	3,960,900	3,947,400	3,876,300	3,792,100	3,694,000	3,553,000	3,441,500	3,329,900	3,228,400	3,161,000	3,078,500	2,991,300	2,905,200	2,820,600	2,736,600	2,662,800
Total assets	US$ in thousands	7,564,900	6,499,200	6,793,900	7,092,300	6,973,500	7,072,900	6,904,100	6,901,300	7,417,100	7,298,000	7,362,100	7,259,300	6,432,900	6,207,800	6,092,100	6,162,200	6,301,200	6,167,600	6,448,900	6,350,600
Total asset turnover		0.54	0.62	0.59	0.56	0.57	0.56	0.56	0.55	0.50	0.49	0.47	0.46	0.50	0.51	0.51	0.49	0.46	0.46	0.42	0.42

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,111,400K ÷ $7,564,900K
= 0.54

The total asset turnover ratio for Godaddy Inc has shown some fluctuations over the past eight quarters, ranging from a low of 0.56 in Q4 2023 to a high of 0.65 in Q3 2023. This ratio measures how efficiently the company is generating revenue from its total assets.

A total asset turnover ratio below 1 indicates that the company is not generating enough revenue relative to its total assets. In the case of Godaddy Inc, the ratios have generally been below 1, suggesting that the company may not be utilizing its assets as efficiently as possible to generate sales.

While there was an improvement in Q3 2023 with a ratio of 0.65, indicating a more efficient usage of assets to generate revenue, this was not sustained as the ratio decreased to 0.56 in Q4 2023. Overall, the trend in total asset turnover for Godaddy Inc appears to be relatively stable around the range of 0.56 to 0.65, indicating room for improvement in optimizing asset utilization to drive revenue growth.