Motorola Solutions Inc (MSI)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	9,701,000	8,868,000	7,942,000	7,223,000	7,574,000
Total assets	US$ in thousands	13,336,000	12,814,000	12,189,000	10,876,000	10,642,000
Total asset turnover		0.73	0.69	0.65	0.66	0.71

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $9,701,000K ÷ $13,336,000K
= 0.73

Total asset turnover is a key financial ratio that measures a company's efficiency in generating revenue from its total assets. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets.

Based on the data provided for Motorola Solutions Inc, we observe that the total asset turnover ratio has fluctuated over the past five years. In 2023, the total asset turnover ratio improved to 0.75 compared to the previous year, where it was 0.71. This increase suggests that Motorola Solutions Inc was able to generate more revenue relative to its total assets in 2023.

Looking further back, we see that the total asset turnover ratio was lower in 2022 (0.71), 2021 (0.67), and 2020 (0.68), indicating lower efficiency in utilizing its assets to generate revenue during those years. However, in 2019, the total asset turnover ratio was relatively higher at 0.74.

Overall, the trend in Motorola Solutions Inc's total asset turnover ratio shows some variability, but the recent increase in 2023 suggests improvement in the company's ability to generate revenue from its asset base. Further analysis and comparison with industry peers may provide additional insights into the company's operational efficiency and asset utilization.