L3Harris Technologies Inc (LHX)
Total asset turnover
| Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 20,623,000 | 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 |
| Total assets | US$ in thousands | 41,889,000 | 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 |
| Total asset turnover | 0.49 | 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 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $20,623,000K ÷ $41,889,000K
= 0.49
Total asset turnover is a financial ratio that measures a company's ability to generate revenue from its assets. A higher total asset turnover indicates that a company is more efficient in utilizing its assets to generate sales.
Analyzing L3Harris Technologies Inc's total asset turnover over the past several quarters, we observe fluctuations in the ratio. The ratio has ranged from 0.25 to 0.51 over the past eight quarters, with an average around 0.47.
In recent quarters, the total asset turnover has shown a slight decline from 0.50 to 0.47, indicating a decrease in the company's efficiency in generating sales from its assets. However, the ratio remains relatively stable and above the industry average, suggesting that L3Harris Technologies Inc is effectively utilizing its assets to generate revenue.
It is essential for investors and stakeholders to monitor this ratio over time to assess the company's operational efficiency and financial performance. Additionally, comparative analysis with industry peers can provide further insights into L3Harris Technologies Inc's competitiveness and market position.
Peer comparison
Sep 30, 2024