L3Harris Technologies Inc (LHX)

Total asset turnover

		Jun 30, 2024	Mar 31, 2024	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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	20,087,000	19,568,000	18,902,000	18,236,000	17,656,000	17,116,000	16,782,000	16,590,000	16,603,000	17,318,000	17,769,000	18,027,000	18,239,000	17,836,000	17,910,000	17,934,000	15,359,000	12,664,000	9,727,000	6,633,000
Total assets	US$ in thousands	41,657,000	41,816,000	41,687,000	42,293,000	35,362,000	35,507,000	33,524,000	33,381,000	34,138,000	34,444,000	34,709,000	35,018,000	36,064,000	36,590,000	36,960,000	37,145,000	37,852,000	38,105,000	38,947,000	10,117,000
Total asset turnover		0.48	0.47	0.45	0.43	0.50	0.48	0.50	0.50	0.49	0.50	0.51	0.51	0.51	0.49	0.48	0.48	0.41	0.33	0.25	0.66

June 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $20,087,000K ÷ $41,657,000K
= 0.48

Total asset turnover measures how efficiently a company generates revenue from its assets. A higher total asset turnover indicates that the company is utilizing its assets effectively to generate sales. L3Harris Technologies Inc's total asset turnover has fluctuated over the periods provided, ranging from 0.25 to 0.66.

The trend shows some variability, with the ratio generally improving in the more recent periods, from 0.33 in March 2020 to 0.48 in June 2024. This suggests that the company has been more efficient in generating revenue from its assets over time. However, the ratio did experience some dips in between.

In comparison to industry benchmarks and historical performance, the company's total asset turnover seems to be in a reasonable range. It is important for the company to continue monitoring and managing its asset turnover to ensure optimal utilization of resources and sustained revenue generation.