Johnson & Johnson (JNJ)

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	88,632,000	87,176,000	85,962,000	84,760,000	87,282,000	91,851,000	95,224,000	94,514,000	93,356,000	91,027,000	88,747,000	83,766,000	82,174,000	80,742,000	80,385,000	82,573,000	81,826,000	81,473,000	80,897,000	81,248,000
Total assets	US$ in thousands	167,558,000	166,061,000	191,686,000	195,969,000	187,378,000	175,124,000	177,724,000	178,355,000	182,018,000	179,228,000	176,440,000	172,557,000	174,894,000	170,693,000	158,380,000	155,017,000	157,728,000	155,521,000	155,117,000	150,027,000
Total asset turnover		0.53	0.52	0.45	0.43	0.47	0.52	0.54	0.53	0.51	0.51	0.50	0.49	0.47	0.47	0.51	0.53	0.52	0.52	0.52	0.54

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $88,632,000K ÷ $167,558,000K
= 0.53

The total asset turnover ratio for Johnson & Johnson has shown some fluctuation over the past eight quarters, ranging from 0.49 to 0.57. In general, a lower total asset turnover ratio indicates that the company is less efficient in generating sales from its assets, while a higher ratio suggests greater efficiency.

The company's total asset turnover ratio has mostly ranged between 0.51 and 0.55, with the exception of Q3 2023 where it reached 0.57, indicating a peak level of efficiency in generating sales from its total assets during that period. Conversely, Q1 2023 and Q2 2023 recorded slightly lower ratios of 0.49 and 0.51 respectively, suggesting a temporary decrease in efficiency during those quarters.

Overall, despite some fluctuations, Johnson & Johnson maintains a relatively consistent performance in utilizing its total assets to generate revenue, with the ratio typically hovering around the mid-0.50 range. This indicates a moderate level of efficiency in the company's asset utilization over the past eight quarters.