Marathon Petroleum Corp (MPC)

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	112,014,000	149,401,000	155,477,000	172,956,000	176,332,000	174,030,000	159,303,000	134,956,000	119,445,000	102,060,000	86,991,000	72,416,000	75,044,000	88,164,000	102,095,000	120,790,000	123,949,000	125,190,000	117,135,000	105,905,000
Total assets	US$ in thousands	85,987,000	89,969,000	86,442,000	87,037,000	89,904,000	89,694,000	96,737,000	90,952,000	85,373,000	89,300,000	94,300,000	86,651,000	85,158,000	84,020,000	84,593,000	86,317,000	98,556,000	98,139,000	96,896,000	96,436,000
Total asset turnover		1.30	1.66	1.80	1.99	1.96	1.94	1.65	1.48	1.40	1.14	0.92	0.84	0.88	1.05	1.21	1.40	1.26	1.28	1.21	1.10

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $112,014,000K ÷ $85,987,000K
= 1.30

Marathon Petroleum Corp's total asset turnover ratio has shown fluctuations over the past eight quarters. The ratio ranged from a low of 1.49 in Q1 2022 to a high of 2.01 in Q1 2023. The company's efficiency in generating sales from its total assets peaked in Q1 2023 but experienced a slight decline in subsequent quarters. Overall, Marathon Petroleum Corp has demonstrated relatively strong asset utilization, with an average total asset turnover of approximately 1.77 over the period analyzed. This indicates that the company is effectively leveraging its assets to generate revenue.