LKQ Corporation (LKQ)
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 | 13,866,000 | 13,366,000 | 12,902,000 | 12,795,000 | 12,794,000 | 12,979,000 | 13,172,000 | 13,266,000 | 13,089,000 | 12,857,060 | 12,607,740 | 11,799,060 | 11,629,000 | 11,684,800 | 11,784,890 | 12,406,740 | 12,506,100 | 12,499,020 | 12,473,630 | 12,256,210 |
| Total assets | US$ in thousands | 15,079,000 | 15,168,000 | 14,155,000 | 12,508,000 | 12,038,000 | 11,666,000 | 12,134,000 | 12,778,000 | 12,606,000 | 12,460,900 | 12,438,100 | 12,665,500 | 12,360,500 | 12,161,200 | 12,035,300 | 12,354,100 | 12,780,000 | 12,411,700 | 12,704,200 | 12,665,900 |
| Total asset turnover | 0.92 | 0.88 | 0.91 | 1.02 | 1.06 | 1.11 | 1.09 | 1.04 | 1.04 | 1.03 | 1.01 | 0.93 | 0.94 | 0.96 | 0.98 | 1.00 | 0.98 | 1.01 | 0.98 | 0.97 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $13,866,000K ÷ $15,079,000K
= 0.92
The total asset turnover for LKQ Corp has shown some fluctuations over the past eight quarters. The ratio has been decreasing gradually since Q4 2022, where it was at its peak of 1.06. The downward trend continued through Q1 and Q2 2023, reaching a low of 0.91.
However, there was a slight improvement in Q3 2023 with a ratio of 0.88. This was followed by a further increase in Q4 2023 to 0.92, indicating a better utilization of the company's assets to generate revenue compared to the previous quarter.
Overall, despite the fluctuations, LKQ Corp has generally maintained a total asset turnover above 1.0 in recent quarters, which suggests the company is effectively generating revenue in relation to its total assets. It would be important to continue monitoring this ratio to assess the company's efficiency in utilizing its assets moving forward.