ManpowerGroup Inc (MAN)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	18,811,700	19,764,800	20,680,400	17,952,800	20,892,800
Total assets	US$ in thousands	8,830,200	9,130,400	9,828,900	9,328,200	9,223,800
Total asset turnover		2.13	2.16	2.10	1.92	2.27

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $18,811,700K ÷ $8,830,200K
= 2.13

The total asset turnover ratio measures how efficiently a company generates revenue relative to its total assets. A higher total asset turnover ratio indicates more efficient utilization of assets to generate sales.

ManpowerGroup's total asset turnover has fluctuated over the past five years, ranging from 1.93 to 2.26. In 2023, the total asset turnover ratio stood at 2.14, slightly lower than the previous year's figure of 2.17. This indicates that ManpowerGroup generated $2.14 in revenue for every $1 of total assets in 2023.

The trend of total asset turnover for ManpowerGroup shows some variability year-over-year, but overall, the company has been effective in utilizing its assets to generate sales. It is important for investors and analysts to monitor this ratio to assess the company's efficiency in asset utilization and its ability to generate revenue.