Callaway Golf Company (MODG)
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 | 4,100,200 | 4,077,300 | 4,031,900 | 3,983,500 | 3,879,900 | 3,753,324 | 3,642,683 | 3,454,542 | 3,079,082 | 2,741,987 | 2,377,880 | 1,771,541 | 1,562,865 | 1,500,177 | 1,433,952 | 1,585,033 | 1,658,125 | 1,526,862 | 1,381,303 | 1,335,016 |
| Total assets | US$ in thousands | 9,120,600 | 8,982,000 | 8,964,400 | 8,941,400 | 8,590,400 | 8,221,700 | 8,156,200 | 8,079,400 | 7,747,800 | 7,397,380 | 7,271,830 | 7,108,560 | 1,980,600 | 1,966,310 | 1,859,660 | 2,135,080 | 1,960,550 | 1,859,650 | 1,937,220 | 1,933,720 |
| Total asset turnover | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.46 | 0.45 | 0.43 | 0.40 | 0.37 | 0.33 | 0.25 | 0.79 | 0.76 | 0.77 | 0.74 | 0.85 | 0.82 | 0.71 | 0.69 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,100,200K ÷ $9,120,600K
= 0.45
Based on the data provided, the total asset turnover of Topgolf Callaway Brands Corp has been relatively stable over the past eight quarters, fluctuating within a narrow range. The average total asset turnover ratio over this period is approximately 0.46, indicating that, on average, the company generates $0.46 in revenue for every dollar of total assets it has.
A total asset turnover ratio of 0.46 to 0.47 suggests that Topgolf Callaway Brands Corp is utilizing its assets efficiently to generate revenue. A higher ratio would indicate better efficiency in asset utilization, but the consistency in the ratio over time implies that the company has been maintaining a steady level of operational efficiency in converting its assets into sales.
It is important for the company to monitor its total asset turnover ratio to ensure that it remains at a competitive and sustainable level. Any significant deviation from the average ratio could warrant further analysis to identify the underlying factors contributing to the change in asset efficiency and to implement appropriate measures to optimize asset utilization.
Peer comparison
Dec 31, 2023