Kirby Corporation (KEX)

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	3,047,864	2,978,815	2,959,644	2,883,549	2,748,750	2,612,051	2,466,984	2,328,190	2,210,984	2,118,857	2,025,957	2,015,773	2,171,408	2,337,579	2,507,821	2,737,704	2,838,399	2,903,965	2,942,001	2,973,630
Total assets	US$ in thousands	5,722,200	5,682,880	5,574,580	5,574,750	5,554,920	5,456,300	5,405,160	5,382,790	5,399,060	5,389,880	5,767,820	5,788,090	5,924,170	5,981,120	6,017,010	6,263,330	6,079,100	6,127,880	6,232,890	6,300,690
Total asset turnover		0.53	0.52	0.53	0.52	0.49	0.48	0.46	0.43	0.41	0.39	0.35	0.35	0.37	0.39	0.42	0.44	0.47	0.47	0.47	0.47

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,047,864K ÷ $5,722,200K
= 0.53

Based on the data provided for Kirby Corp.'s total asset turnover over the past eight quarters, we observe a gradual improvement trend in this metric. The total asset turnover ratio increased from 0.44 in Q1 2022 to 0.54 in Q4 2023, indicating that the company is generating more revenue relative to its total assets over this period.

A higher total asset turnover ratio implies that Kirby Corp. is efficiently utilizing its assets to generate sales. This could be attributed to effective asset management strategies, improved operational efficiency, or successful revenue generation initiatives.

The consistent increase in total asset turnover suggests that Kirby Corp. has been making progress in optimizing its asset utilization and maximizing sales generation efficiency. Investors and stakeholders may view this trend positively as it indicates the company's ability to generate more revenue with the same level of investments in assets.