Mettler-Toledo International Inc (MTD)

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	3,788,309	3,910,997	3,954,381	3,950,651	3,919,704	3,899,264	3,865,368	3,811,332	3,717,931	3,618,676	3,474,083	3,240,405	3,085,177	2,991,160	2,937,669	2,978,362	3,008,652	2,982,607	2,963,587	2,954,217
Total assets	US$ in thousands	3,355,560	3,288,730	3,370,400	3,409,910	3,492,400	3,294,460	3,336,430	3,356,180	3,326,800	3,207,160	3,142,900	3,028,370	2,814,550	2,766,540	2,679,650	2,885,780	2,789,320	2,635,870	2,660,860	2,636,700
Total asset turnover		1.13	1.19	1.17	1.16	1.12	1.18	1.16	1.14	1.12	1.13	1.11	1.07	1.10	1.08	1.10	1.03	1.08	1.13	1.11	1.12

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,788,309K ÷ $3,355,560K
= 1.13

Mettler-Toledo International, Inc.'s total asset turnover has shown some fluctuations over the past eight quarters. The total asset turnover ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is using its assets more efficiently to generate sales.

The data shows that the total asset turnover ratio ranged from a low of 1.12 in Q4 2022 to a high of 1.19 in Q3 2023. Overall, the ratio has been relatively stable, with a range of 1.12 to 1.19 over the past eight quarters. This suggests that Mettler-Toledo International, Inc. has been consistently efficient in utilizing its assets to generate sales revenue.

It is important to note that a consistent total asset turnover ratio over time indicates a stable level of efficiency in asset utilization. However, further analysis and comparison with industry benchmarks would provide more insight into the company's performance relative to its peers.