Eli Lilly and Company (LLY)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	34,124,100	28,541,400	28,318,400	24,539,800	22,319,500
Total assets	US$ in thousands	64,006,300	49,489,800	48,806,000	46,633,100	39,286,100
Total asset turnover		0.53	0.58	0.58	0.53	0.57

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $34,124,100K ÷ $64,006,300K
= 0.53

The total asset turnover of Lilly(Eli) & Co has shown some fluctuations over the past five years. In 2023, the total asset turnover was 0.53, which indicates that the company generated $0.53 in revenue for every dollar of assets it had during the year. This ratio was lower compared to the previous year, where it was at 0.58.

The trend in total asset turnover between 2021 and 2023 remained relatively stable, hovering around the 0.58 mark. This suggests that the company's efficiency in utilizing its assets to generate revenue has been consistent during these years.

However, the total asset turnover in 2020 was lower at 0.53, which could indicate a temporary decrease in the company's asset efficiency in that particular year. The ratio improved slightly in 2019 to 0.57, showing a better utilization of assets compared to 2020.

Overall, the total asset turnover ratio of Lilly(Eli) & Co has fluctuated within a relatively narrow range over the past five years, indicating varying levels of asset efficiency. This metric provides insights into how effectively the company is using its assets to generate revenue and can be used to assess its operational performance and efficiency over time.