Kelly Services A Inc (KELYA)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,834,000	4,948,800	4,905,600	4,506,800	5,355,600
Total assets	US$ in thousands	2,581,600	2,663,800	2,894,200	2,561,900	2,480,600
Total asset turnover		1.87	1.86	1.69	1.76	2.16

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,834,000K ÷ $2,581,600K
= 1.87

The total asset turnover of Kelly Services, Inc. has shown fluctuations over the past five years. The metric was 1.87 for the fiscal year ending December 31, 2023, demonstrating an increase from the previous year's value of 1.86. This indicates that for every dollar of total assets, the company generated $1.87 in revenue.

Comparing the most recent data to that of five years ago, there has been a decline in total asset turnover from 2.16 on December 29, 2019, to 1.87 on December 31, 2023. This suggests a potential decrease in the company's efficiency in utilizing its assets to generate revenue over this period.

For the fiscal years 2021 and 2022, the total asset turnover was 1.76 and 1.70, respectively, indicating fluctuations in the company's asset utilization efficiency during those years. It's important to delve deeper into the company's operations and financial performance to understand the factors contributing to these variations in total asset turnover over the years.