Kelly Services A Inc (KELYA)

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	4,835,500	3,861,600	3,911,600	2,700,700	1,433,300	2,422,100	2,449,600	3,702,000	4,906,200	4,897,300	4,739,800	4,458,800	4,516,300	4,613,700	4,843,900	5,235,600	5,355,600	5,432,500	5,507,200	5,526,600
Total assets	US$ in thousands	2,581,600	2,550,000	2,595,000	2,588,600	2,663,800	2,681,900	2,735,200	2,785,600	2,894,200	2,803,500	2,746,900	2,610,100	2,561,900	2,391,700	2,318,700	2,261,800	2,480,600	2,476,300	2,542,300	2,472,200
Total asset turnover		1.87	1.51	1.51	1.04	0.54	0.90	0.90	1.33	1.70	1.75	1.73	1.71	1.76	1.93	2.09	2.31	2.16	2.19	2.17	2.24

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,835,500K ÷ $2,581,600K
= 1.87

Total asset turnover is a key financial ratio that measures a company's efficiency in generating sales revenue from its total assets. For Kelly Services, Inc., the total asset turnover ratio has been relatively stable over the past eight quarters, ranging from 1.80 to 1.91. This indicates that the company is effectively utilizing its assets to generate sales revenue, with each dollar of assets producing between $1.80 and $1.91 in revenue.

A total asset turnover ratio above 1 suggests that Kelly Services, Inc. is efficient in utilizing its assets to generate sales, which is generally seen as a positive indication of operational efficiency. The relatively consistent total asset turnover ratio over the quarters implies that the company has been able to maintain a consistent level of asset utilization efficiency during this period.

However, it is essential to compare Kelly Services, Inc.'s total asset turnover ratio with industry benchmarks and historical performance to gain deeper insights into its asset utilization efficiency and competitiveness within the industry. Additionally, further analysis of the company's financial statements and operations would provide a more comprehensive understanding of its overall financial performance and efficiency in utilizing its assets.