McDonald’s Corporation (MCD)

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	25,493,700	25,014,000	24,193,900	23,414,800	23,182,600	23,265,200	23,594,400	23,763,900	23,222,900	22,527,600	21,744,400	19,618,000	19,207,800	19,243,000	19,327,200	20,975,500	21,285,200	21,099,200	20,966,300	20,910,400
Total assets	US$ in thousands	56,146,800	52,089,300	50,442,000	52,014,400	50,435,600	48,501,600	49,247,800	50,877,700	53,854,300	52,727,000	51,893,100	51,103,100	52,626,800	50,699,300	49,938,900	50,568,000	47,510,800	45,805,000	46,199,800	46,466,600
Total asset turnover		0.45	0.48	0.48	0.45	0.46	0.48	0.48	0.47	0.43	0.43	0.42	0.38	0.36	0.38	0.39	0.41	0.45	0.46	0.45	0.45

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $25,493,700K ÷ $56,146,800K
= 0.45

McDonald's Corp's total asset turnover has been fairly consistent over the past eight quarters, ranging between 0.45 and 0.48. This indicates that, on average, the company generates revenue equal to approximately 45-48% of its total assets each quarter. A higher total asset turnover ratio typically signifies that a company is more efficient in generating sales from its assets.

While McDonald's Corp's total asset turnover is relatively stable, it's essential to consider industry benchmarks and trends to gain a better understanding of its performance in utilizing its assets to generate revenue. Further analysis can help determine if the company is effectively managing its assets and maximizing its operational efficiency.