MGM Resorts International (MGM)

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	15,642,020	14,936,500	14,365,390	15,941,210	14,865,260	14,215,440	13,432,030	10,091,140	8,870,390	7,329,990	5,774,612	3,842,475	5,850,905	7,589,185	9,735,953	12,610,310	12,110,220	12,119,940	11,844,790	11,514,580
Total assets	US$ in thousands	42,368,500	42,572,500	42,905,800	43,542,200	45,692,200	47,330,200	48,432,100	38,650,000	40,899,100	41,338,300	36,776,400	37,330,800	36,494,900	37,004,800	37,471,300	39,118,900	33,876,400	31,168,900	30,813,700	31,146,900
Total asset turnover		0.37	0.35	0.33	0.37	0.33	0.30	0.28	0.26	0.22	0.18	0.16	0.10	0.16	0.21	0.26	0.32	0.36	0.39	0.38	0.37

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $15,642,020K ÷ $42,368,500K
= 0.37

Based on the provided data, MGM Resorts International's total asset turnover has shown an improving trend over the past eight quarters. The total asset turnover ratio measures the company's efficiency in generating sales revenue from its total assets.

In Q4 2023, the total asset turnover ratio was at 0.38, indicating that the company generated $0.38 in sales for every $1 of total assets. This represented an increase from the previous quarter's ratio of 0.36 and continued the positive trend observed over the past two years.

The company's total asset turnover ratio has steadily increased from 0.25 in Q2 2022 to 0.38 in Q4 2023. This improvement suggests that MGM Resorts International has been more effective in utilizing its assets to generate revenue, potentially indicating better operational efficiency and management of its assets.

Overall, MGM Resorts International's increasing total asset turnover ratio signifies an enhanced ability to generate sales from its total assets, reflecting positively on the company's operational performance and asset utilization efficiency.