McKesson Corporation (MCK)

Total asset turnover

		Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	308,743,000	301,155,000	290,742,000	283,832,000	276,496,000	273,874,000	272,026,000	268,122,000	263,687,000	256,729,000	250,755,000	245,223,000	238,228,000	237,621,000	234,203,000	231,016,000	231,082,000	224,976,000	222,003,000	217,457,000
Total assets	US$ in thousands	67,443,000	66,512,000	66,091,000	64,096,000	62,320,000	62,690,000	63,081,000	62,295,000	63,298,000	63,708,000	63,601,000	62,894,000	65,015,000	61,845,000	61,558,000	57,666,000	61,247,000	60,873,000	58,994,000	61,680,000
Total asset turnover		4.58	4.53	4.40	4.43	4.44	4.37	4.31	4.30	4.17	4.03	3.94	3.90	3.66	3.84	3.80	4.01	3.77	3.70	3.76	3.53

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $308,743,000K ÷ $67,443,000K
= 4.58

The total asset turnover ratio for McKesson Corporation has shown a generally positive trend over the past several quarters, reflecting the company's ability to generate revenue relative to its total assets. The ratio has consistently been above 4, indicating that McKesson efficiently utilizes its assets to generate sales.

Specifically, the ratio has improved from 3.53 in Jun 2019 to 4.58 in Mar 2024, suggesting an increasing efficiency in utilizing assets to drive sales growth. This improvement indicates that McKesson has been successful in optimizing its asset utilization and operational efficiency over time.

Overall, the upward trend in total asset turnover ratio for McKesson Corporation reflects a positive performance in efficiently generating sales relative to the company's total assets.