General Motors Company (GM)

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	171,841,000	171,970,000	169,728,000	160,741,000	156,735,000	147,211,000	132,101,000	130,509,000	127,004,000	130,938,000	139,639,000	122,250,000	122,485,000	115,793,000	115,786,000	135,068,000	137,237,000	144,810,000	145,128,000	145,828,000
Total assets	US$ in thousands	273,064,000	281,705,000	275,833,000	267,004,000	264,037,000	260,529,000	253,517,000	251,492,000	244,718,000	238,557,000	241,803,000	238,411,000	235,194,000	239,671,000	237,535,000	246,624,000	228,037,000	231,529,000	233,737,000	233,132,000
Total asset turnover		0.63	0.61	0.62	0.60	0.59	0.57	0.52	0.52	0.52	0.55	0.58	0.51	0.52	0.48	0.49	0.55	0.60	0.63	0.62	0.63

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $171,841,000K ÷ $273,064,000K
= 0.63

The total asset turnover ratio measures the efficiency with which a company utilizes its assets to generate sales. It is calculated by dividing the company's total revenue by its average total assets.

Looking at the data for General Motors Company, we can observe that the total asset turnover ratio has fluctuated over the past eight quarters. The ratio ranged from 0.52 to 0.63 during this period.

The trend indicates that the company's ability to generate sales from its total assets has improved since the ratio has generally been increasing. However, the ratio experienced some variability from quarter to quarter.

A higher total asset turnover ratio suggests that the company is effectively utilizing its assets to generate sales. Conversely, a lower ratio may indicate inefficiencies in asset utilization.

It's important to delve deeper into the company's operations and industry dynamics to understand the factors driving these fluctuations and to evaluate the overall effectiveness of the company's asset management.