Goodyear Tire & Rubber Co (GT)
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 | 19,457,000 | 19,771,000 | 19,950,000 | 20,353,000 | 20,353,000 | 20,029,000 | 19,675,000 | 18,454,000 | 17,073,000 | 15,698,000 | 14,244,000 | 12,406,000 | 11,955,000 | 12,037,000 | 12,373,000 | 13,888,000 | 14,438,000 | 14,593,000 | 14,727,000 | 14,929,000 |
| Total assets | US$ in thousands | 21,582,000 | 22,499,000 | 22,814,000 | 23,171,000 | 22,431,000 | 23,378,000 | 22,901,000 | 22,622,000 | 21,402,000 | 21,617,000 | 21,180,000 | 16,569,000 | 16,506,000 | 16,192,000 | 15,827,000 | 16,691,000 | 17,185,000 | 18,299,000 | 18,470,000 | 18,273,000 |
| Total asset turnover | 0.90 | 0.88 | 0.87 | 0.88 | 0.91 | 0.86 | 0.86 | 0.82 | 0.80 | 0.73 | 0.67 | 0.75 | 0.72 | 0.74 | 0.78 | 0.83 | 0.84 | 0.80 | 0.80 | 0.82 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $19,457,000K ÷ $21,582,000K
= 0.90
The total asset turnover ratio measures a company's ability to generate revenue from its assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate sales.
Based on the data provided for Goodyear Tire & Rubber Co., we can see fluctuations in the total asset turnover ratio over the past eight quarters. The ratio has ranged from 0.83 to 0.93.
In Q4 2023 and Q4 2022, the total asset turnover was 0.93, the highest among the quarters presented. This suggests that the company was able to generate more revenue relative to its total assets in those periods.
On the other hand, in Q1 2022, the total asset turnover was at its lowest at 0.83, indicating that the company was less effective in utilizing its assets to generate sales during that quarter.
Overall, while there have been fluctuations in the total asset turnover ratio of Goodyear Tire & Rubber Co. over the past eight quarters, it is essential to continue monitoring and analyzing this ratio to assess the company's efficiency in utilizing its assets to drive revenue.