ManpowerGroup Inc (MAN)

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	18,813,000	18,997,000	19,134,800	19,366,000	19,762,200	20,347,600	20,690,800	20,895,400	20,680,400	20,363,000	19,806,800	18,271,300	17,964,500	18,106,200	18,765,700	20,396,800	20,823,700	21,020,300	26,617,800	32,562,200
Total assets	US$ in thousands	8,830,200	8,588,800	8,869,200	8,889,600	9,130,400	8,556,900	9,618,500	9,721,100	9,828,900	9,452,300	9,462,400	9,244,500	9,328,200	8,949,300	8,459,600	8,676,900	9,223,800	8,753,200	9,048,300	8,818,400
Total asset turnover		2.13	2.21	2.16	2.18	2.16	2.38	2.15	2.15	2.10	2.15	2.09	1.98	1.93	2.02	2.22	2.35	2.26	2.40	2.94	3.69

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $18,813,000K ÷ $8,830,200K
= 2.13

The total asset turnover for ManpowerGroup has shown some variability over the past eight quarters. The ratio has ranged from a low of 2.14 in Q4 2023 to a high of 2.38 in Q3 2022. Overall, the ratio has generally been above 2, indicating that the company is generating more than $2 in revenue for every $1 in total assets. This suggests that ManpowerGroup is efficient in utilizing its assets to generate sales. The slight fluctuations in the ratio may be reflective of changes in the company's operating efficiency or changes in its business environment. Further analysis and comparison with industry benchmarks would provide more insights into the effectiveness of ManpowerGroup's asset management.