Genuine Parts Co (GPC)

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	23,026,140	23,066,460	22,914,730	22,701,150	22,227,680	21,420,010	20,566,850	19,649,510	18,820,380	18,268,760	17,809,170	16,839,300	16,932,210	16,960,510	17,604,750	18,717,950	18,865,300	19,161,370	18,870,670	18,755,300
Total assets	US$ in thousands	17,968,500	17,021,900	16,941,600	16,907,500	16,495,400	16,377,100	16,238,200	16,273,300	14,352,100	13,974,900	14,086,000	13,943,500	13,440,200	13,475,500	13,264,000	14,451,400	14,645,600	14,513,200	14,639,500	14,070,500
Total asset turnover		1.28	1.36	1.35	1.34	1.35	1.31	1.27	1.21	1.31	1.31	1.26	1.21	1.26	1.26	1.33	1.30	1.29	1.32	1.29	1.33

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $23,026,140K ÷ $17,968,500K
= 1.28

Genuine Parts Co. has shown relatively consistent performance in terms of its total asset turnover ratio over the past eight quarters, ranging from 1.21 to 1.35. This ratio measures the company's efficiency in generating revenue from its total assets. The average total asset turnover ratio for the period under consideration is approximately 1.31.

The company's ability to generate sales from its total assets has generally remained stable, with minor fluctuations observed in certain quarters. A higher total asset turnover ratio indicates that Genuine Parts Co. is adept at utilizing its assets to generate revenue efficiently.

Although the trend indicates a reasonably strong performance in terms of asset utilization, it would be beneficial for investors and analysts to further investigate the factors contributing to the fluctuations in the total asset turnover ratio over the quarters to assess the company's operational efficiency and overall financial health.