Martin Marietta Materials Inc (MLM)
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 | 6,611,800 | 6,477,700 | 6,293,300 | 6,113,300 | 5,994,600 | 6,009,400 | 5,753,500 | 5,504,700 | 5,270,300 | 4,974,600 | 4,754,300 | 4,643,900 | 4,615,000 | 4,529,960 | 4,625,070 | 4,631,840 | 4,610,360 | 4,558,440 | 4,354,800 | 4,278,060 |
| Total assets | US$ in thousands | 15,124,900 | 14,917,800 | 15,246,200 | 14,890,900 | 14,993,600 | 14,729,700 | 14,542,800 | 14,241,500 | 14,393,000 | 13,786,200 | 11,223,100 | 10,659,300 | 10,580,800 | 10,435,400 | 10,226,600 | 10,503,400 | 10,131,600 | 10,223,500 | 10,163,700 | 10,048,400 |
| Total asset turnover | 0.44 | 0.43 | 0.41 | 0.41 | 0.40 | 0.41 | 0.40 | 0.39 | 0.37 | 0.36 | 0.42 | 0.44 | 0.44 | 0.43 | 0.45 | 0.44 | 0.46 | 0.45 | 0.43 | 0.43 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,611,800K ÷ $15,124,900K
= 0.44
The total asset turnover for Martin Marietta Materials, Inc. has been relatively stable over the past eight quarters, ranging from 0.40 to 0.45. This ratio indicates that, on average, the company generates around $0.40 to $0.45 in revenue for every dollar of assets it holds.
A total asset turnover below 1.0 suggests that the company may not be efficiently utilizing its assets to generate sales. However, as the construction materials industry often requires significant investments in assets such as quarries, plants, and equipment, a lower total asset turnover may be characteristic of this industry.
The consistent range of total asset turnover ratios can indicate that Martin Marietta Materials, Inc. has maintained a stable level of efficiency in utilizing its assets to generate revenue. It is important for stakeholders to monitor any significant changes in this ratio over time to assess the company's ability to generate sales relative to its asset base.
Peer comparison
Dec 31, 2023