LCI Industries (LCII)

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	3,784,809	3,841,611	4,014,376	4,535,886	5,207,146	5,526,210	5,559,440	5,117,010	4,472,700	4,042,292	3,704,711	3,136,756	2,796,166	2,577,185	2,335,677	2,438,980	2,371,482	2,344,077	2,362,100	2,417,487
Total assets	US$ in thousands	2,959,320	3,033,810	3,076,400	3,209,370	3,246,910	3,268,970	3,482,700	3,640,720	3,288,090	3,088,180	2,776,180	2,500,470	2,298,030	2,110,680	2,018,270	2,051,210	1,862,600	1,414,810	1,330,220	1,342,550
Total asset turnover		1.28	1.27	1.30	1.41	1.60	1.69	1.60	1.41	1.36	1.31	1.33	1.25	1.22	1.22	1.16	1.19	1.27	1.66	1.78	1.80

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,784,809K ÷ $2,959,320K
= 1.28

The total asset turnover ratio for LCI Industries has shown a declining trend over the past eight quarters. Starting from a high of 1.69 in Q3 2022, the ratio has gradually decreased to 1.28 in Q4 2023. This indicates that the company generated $1.28 in revenue for every $1 of total assets in the most recent quarter.

The average total asset turnover for the past eight quarters is approximately 1.45, suggesting that, on average, the company has been efficient in utilizing its assets to generate revenue. However, the recent decline in the ratio may raise concerns about the company's ability to efficiently generate sales using its assets.

Further analysis and comparisons with industry benchmarks and competitors' total asset turnover ratios may provide insights into LCI Industries' operational efficiency and asset utilization. Additionally, monitoring future trends in the total asset turnover ratio will be crucial in assessing the company's financial performance and efficiency in the upcoming quarters.