KAR Auction Services Inc (KAR)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,645,100	1,519,400	1,450,600	1,326,900	2,781,900
Total assets	US$ in thousands	4,726,300	5,119,800	7,450,700	6,798,200	6,581,200
Total asset turnover		0.35	0.30	0.19	0.20	0.42

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,645,100K ÷ $4,726,300K
= 0.35

Openlane Inc.'s total asset turnover has fluctuated over the past five years, ranging from 0.30 to 0.42. The ratio indicates that for every dollar of total assets, the company generated sales of 0.30 to 0.42, implying varying levels of efficiency in asset utilization.

In 2023, the total asset turnover improved to 0.35 compared to the previous year's 0.30, suggesting a better ability to generate revenue from its total assets. However, the ratio is still comparatively lower than the 2019 level of 0.42, indicating a potential decline in asset efficiency since that year. Further analysis is needed to understand the factors driving these fluctuations and to assess the company's overall asset management effectiveness.