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.