Group 1 Automotive Inc (GPI)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	17,760,600	16,137,600	13,416,000	10,768,700	11,964,300
Total assets	US$ in thousands	7,774,100	6,717,500	5,749,400	5,089,400	5,570,200
Total asset turnover		2.28	2.40	2.33	2.12	2.15

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $17,760,600K ÷ $7,774,100K
= 2.28

Group 1 Automotive, Inc.'s total asset turnover has shown fluctuations over the past five years. The trend indicates the company's ability to generate revenue in relation to its total assets. A total asset turnover ratio of 2.30 in 2023 signifies that the company generated $2.30 in revenue for every $1 of total assets.

Comparing this ratio to previous years, we see a slight decline from the 2.41 in 2022 and 2.34 in 2021. This may indicate a less efficient use of assets in generating revenue in 2023. However, the ratio still remains above 2, which generally indicates that the company is utilizing its assets effectively to generate sales.

The significant increase in total asset turnover from 2.13 in 2020 to 2.16 in 2019 indicates that Group 1 Automotive, Inc. improved its efficiency in generating revenue from its assets during that period.

Overall, the trend in total asset turnover for Group 1 Automotive, Inc. suggests that the company has historically been successful in efficiently generating revenue from its total assets, but there may be a need for closer monitoring to ensure continued efficiency in asset utilization for revenue generation.