Southwest Airlines Company (LUV)

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	25,856,000	25,202,000	24,805,000	24,431,000	23,395,000	22,240,000	20,744,000	18,041,000	15,380,000	12,435,000	9,655,000	6,763,000	9,048,000	12,764,000	16,610,000	21,511,000	22,426,000	22,401,000	22,337,000	22,170,000
Total assets	US$ in thousands	36,487,000	36,980,000	36,519,000	35,546,000	35,369,000	35,946,000	38,302,000	37,262,000	36,320,000	37,110,000	38,206,000	35,493,000	34,588,000	35,605,000	35,596,000	26,885,000	25,895,000	26,467,000	26,374,000	26,459,000
Total asset turnover		0.71	0.68	0.68	0.69	0.66	0.62	0.54	0.48	0.42	0.34	0.25	0.19	0.26	0.36	0.47	0.80	0.87	0.85	0.85	0.84

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $25,856,000K ÷ $36,487,000K
= 0.71

Southwest Airlines Co's total asset turnover has shown a consistent improvement over the quarters in the data provided. The ratio increased from 0.49 in Q1 2022 to 0.72 in Q4 2023, indicating that the company is generating more revenue for each dollar invested in total assets over the period. This trend suggests that Southwest Airlines Co is utilizing its assets more efficiently to generate sales. A higher total asset turnover ratio may signify effective operational management and the ability to effectively utilize assets to drive revenue growth. Overall, the increasing trend in total asset turnover reflects positively on Southwest Airlines Co's operational efficiency and financial performance.