Landstar System Inc (LSTR)

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	5,303,320	5,773,650	6,300,440	6,901,640	7,436,560	7,706,810	7,624,980	7,220,640	6,537,570	5,888,910	5,240,160	4,492,954	4,132,990	3,831,509	3,757,619	3,979,145	4,084,579	4,272,050	4,462,470	4,600,220
Total assets	US$ in thousands	1,801,850	1,852,530	1,837,760	1,837,860	1,931,880	1,988,540	2,017,070	2,045,810	2,045,460	1,914,040	1,703,210	1,574,460	1,653,800	1,392,200	1,272,110	1,236,430	1,427,710	1,385,730	1,348,690	1,350,940
Total asset turnover		2.94	3.12	3.43	3.76	3.85	3.88	3.78	3.53	3.20	3.08	3.08	2.85	2.50	2.75	2.95	3.22	2.86	3.08	3.31	3.41

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,303,320K ÷ $1,801,850K
= 2.94

The total asset turnover ratio measures how efficiently a company is using its assets to generate revenue. A higher total asset turnover indicates that the company is generating more revenue per dollar of assets.

Analyzing Landstar System Inc's total asset turnover over the last few quarters, we observe fluctuations in the ratio. From Dec 2019 to Mar 2020, the total asset turnover increased from 2.86 to 3.22, indicating more efficient asset utilization during this period. However, there was a slight dip in the ratio in Jun 2020 to 2.95, followed by an increase in Sep 2020 to 2.75.

Subsequently, Landstar System Inc's total asset turnover showed an improving trend, reaching 3.85 by Dec 2022. This suggests that the company was able to generate $3.85 in revenue for every dollar of assets at the end of 2022, which is a positive indicator of efficient asset management.

The ratio fluctuated in the following quarters but remained relatively high, indicating that Landstar System Inc has been effectively utilizing its assets to drive revenue generation. The latest total asset turnover ratio of 2.94 as of Dec 31, 2023, suggests that the company is still efficiently leveraging its assets to generate revenue, although it has slightly decreased from the peak seen in previous quarters.