Laboratory Corporation of America Holdings (LH)
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 | 12,901,700 | 15,811,000 | 15,621,000 | 15,510,300 | 15,632,000 | 13,745,500 | 14,941,300 | 15,859,000 | 16,120,900 | 16,554,600 | 16,388,100 | 15,316,200 | 13,978,500 | 12,442,100 | 11,474,500 | 11,587,400 | 11,554,800 | 11,388,900 | 11,291,700 | 11,276,300 |
| Total assets | US$ in thousands | 16,725,100 | 16,886,000 | 17,718,700 | 20,200,000 | 20,155,100 | 19,826,000 | 20,403,100 | 20,728,400 | 20,385,400 | 20,866,500 | 20,417,100 | 20,417,100 | 20,071,700 | 18,739,600 | 17,849,100 | 17,298,400 | 18,046,400 | 17,847,800 | 17,744,400 | 16,970,800 |
| Total asset turnover | 0.77 | 0.94 | 0.88 | 0.77 | 0.78 | 0.69 | 0.73 | 0.77 | 0.79 | 0.79 | 0.80 | 0.75 | 0.70 | 0.66 | 0.64 | 0.67 | 0.64 | 0.64 | 0.64 | 0.66 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $12,901,700K ÷ $16,725,100K
= 0.77
The total asset turnover ratio of Laboratory Corp. Of America Holdings has shown variability over the past eight quarters. The ratio ranged from 0.73 to 0.80 during this period, indicating how effectively the company generates revenue relative to its total assets.
A higher total asset turnover ratio typically suggests that the company is efficient in utilizing its assets to generate sales. In this case, the company's total asset turnover has generally been within a narrow range, oscillating around 0.77, which indicates a consistent level of asset utilization efficiency.
However, it is essential to note that a single ratio cannot provide a complete picture of a company's financial health. Further analysis and comparison with industry benchmarks or historical data could provide more insights into Laboratory Corp. Of America Holdings' operational efficiency and asset utilization performance.
Peer comparison
Dec 31, 2023