Group 1 Automotive Inc (GPI)

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	17,760,500	17,358,100	16,826,700	16,421,000	16,137,700	15,590,700	14,935,700	14,495,500	13,664,700	13,097,100	12,626,600	11,044,500	10,721,000	10,910,400	10,987,000	11,869,400	11,991,360	11,788,770	11,560,390	11,497,440
Total assets	US$ in thousands	7,774,100	7,439,600	7,424,600	6,923,200	6,717,500	6,251,500	6,102,800	6,039,600	5,749,400	4,757,600	4,855,900	5,065,100	5,089,400	4,983,400	4,859,600	5,441,100	5,570,200	5,329,000	5,225,760	5,263,490
Total asset turnover		2.28	2.33	2.27	2.37	2.40	2.49	2.45	2.40	2.38	2.75	2.60	2.18	2.11	2.19	2.26	2.18	2.15	2.21	2.21	2.18

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $17,760,500K ÷ $7,774,100K
= 2.28

Group 1 Automotive, Inc.'s total asset turnover has displayed some fluctuations over the past eight quarters. The ratio measures the company's efficiency in generating sales revenue from its total assets. A higher total asset turnover indicates that the company is effectively utilizing its assets to generate revenue.

Looking at the data, we observe that the total asset turnover ranged from 2.28 to 2.47 over the quarters provided. There was a general downward trend from Q4 2022 to Q2 2023, with the ratio declining from 2.41 to 2.28. However, the ratio rebounded in Q3 and Q4 of 2023, showing slight improvements.

Overall, the trend in total asset turnover suggests that Group 1 Automotive, Inc. has been relatively efficient in utilizing its assets to generate revenue. The fluctuations in the ratio indicate potential changes in the company's asset management and sales generation strategies over the analyzed period. Further analysis of operational and financial performance metrics will provide a better understanding of the company's overall efficiency and effectiveness in asset utilization.