Meritage Corporation (MTH)

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	6,137,610	6,475,460	6,439,460	6,284,020	6,285,610	5,791,540	5,472,310	5,319,250	5,116,050	5,027,110	4,905,100	4,684,410	4,506,306	4,231,586	4,035,343	3,869,074	3,677,839	2,534,947	2,479,321	2,488,325
Total assets	US$ in thousands	6,353,130	6,181,870	6,065,640	5,871,150	5,772,100	5,571,090	5,307,720	5,058,160	4,807,530	4,565,450	4,321,550	4,038,420	3,864,400	3,687,320	3,541,730	3,914,460	3,398,250	3,635,040	3,466,880	3,395,870
Total asset turnover		0.97	1.05	1.06	1.07	1.09	1.04	1.03	1.05	1.06	1.10	1.14	1.16	1.17	1.15	1.14	0.99	1.08	0.70	0.72	0.73

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,137,610K ÷ $6,353,130K
= 0.97

Total asset turnover is a key financial ratio that measures a company's efficiency in utilizing its assets to generate sales revenue. It indicates how well a company is able to generate sales relative to the value of its assets. The higher the ratio, the more effectively the company is using its assets to generate sales.

In the case of Meritage Homes Corp., the total asset turnover has shown fluctuations over the past eight quarters. The ratio ranged from 0.96 to 1.09 during this period. The trend demonstrates some inconsistency but generally indicates that the company is efficiently utilizing its assets to generate revenue.

A total asset turnover ratio above 1 suggests that Meritage Homes Corp. is generating more in sales revenue than the value of its total assets, which is a positive sign of asset efficiency. However, it is important to consider industry standards and compare the company's ratio with its peers to get a better context.

Overall, based on the data provided, Meritage Homes Corp. has displayed a reasonably healthy total asset turnover ratio, indicating effective asset management and revenue generation.