The Coca-Cola Company (KO)

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	45,754,000	45,030,000	44,140,000	43,493,000	43,004,000	42,343,000	41,322,000	40,126,000	38,655,000	37,802,000	36,412,000	33,433,000	33,014,000	33,471,000	34,326,000	37,173,000	37,266,000	36,004,000	35,272,000	34,696,000
Total assets	US$ in thousands	97,703,000	97,578,000	98,456,000	97,404,000	92,763,000	92,471,000	93,169,000	94,064,000	94,354,000	90,606,000	90,194,000	89,993,000	87,296,000	97,184,000	94,689,000	94,013,000	86,381,000	87,433,000	89,996,000	88,347,000
Total asset turnover		0.47	0.46	0.45	0.45	0.46	0.46	0.44	0.43	0.41	0.42	0.40	0.37	0.38	0.34	0.36	0.40	0.43	0.41	0.39	0.39

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $45,754,000K ÷ $97,703,000K
= 0.47

The total asset turnover ratio of Coca-Cola Co has been relatively stable over the past eight quarters, ranging between 0.43 and 0.47. This ratio indicates that for each dollar of total assets the company holds, it generates between $0.43 and $0.47 in sales revenue.

A relatively consistent total asset turnover ratio suggests that the company is effectively utilizing its assets to generate sales revenue. However, it is important to consider other factors such as industry norms and company-specific strategies to fully assess the efficiency of asset utilization.

Overall, the stable total asset turnover ratio of Coca-Cola Co over the analyzed period indicates a consistent level of asset efficiency in generating revenue.