Eli Lilly and Company (LLY)

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	34,124,100	32,072,500	29,515,500	27,691,400	28,541,400	29,239,500	29,070,700	29,322,800	28,318,400	27,758,500	26,726,300	25,485,600	24,539,800	23,213,800	22,949,800	23,087,100	22,319,500	21,843,100	21,673,400	21,621,700
Total assets	US$ in thousands	64,006,300	57,915,500	54,814,000	53,163,000	49,489,800	47,461,500	47,063,600	46,919,300	48,806,000	48,187,000	47,809,000	46,838,300	46,633,100	43,946,000	41,967,000	41,102,800	39,286,100	37,893,100	38,666,400	38,006,800
Total asset turnover		0.53	0.55	0.54	0.52	0.58	0.62	0.62	0.62	0.58	0.58	0.56	0.54	0.53	0.53	0.55	0.56	0.57	0.58	0.56	0.57

December 31, 2023 calculation

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

Lilly(Eli) & Co's total asset turnover has shown a declining trend over the last eight quarters. The company's total asset turnover ratio decreased from 0.58 in Q4 2022 to 0.53 in Q4 2023. This indicates that the company generated $0.53 in sales for every $1 of total assets during Q4 2023.

The downward trend in total asset turnover could suggest inefficiencies in asset utilization or decreasing sales relative to the size of the asset base. It may indicate that the company is not effectively generating revenue from its assets or that there are operational challenges impacting sales efficiency.

Further analysis of the factors affecting sales and asset management within the company may be necessary to address the declining trend in total asset turnover and improve overall financial performance.