Northrop Grumman Corporation (NOC)

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	39,290,000	38,685,000	37,881,000	37,106,000	36,602,000	35,208,000	34,957,000	35,307,000	35,667,000	37,240,000	37,603,000	37,336,000	36,799,000	35,308,000	34,700,000	34,272,000	33,841,000	33,276,000	32,886,000	31,549,000
Total assets	US$ in thousands	46,544,000	44,896,000	45,609,000	44,244,000	43,755,000	42,733,000	41,914,000	41,903,000	42,579,000	42,346,000	42,142,000	41,423,000	44,469,000	44,772,000	43,475,000	43,203,000	41,089,000	40,553,000	39,584,000	39,751,000
Total asset turnover		0.84	0.86	0.83	0.84	0.84	0.82	0.83	0.84	0.84	0.88	0.89	0.90	0.83	0.79	0.80	0.79	0.82	0.82	0.83	0.79

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $39,290,000K ÷ $46,544,000K
= 0.84

The total asset turnover ratio of Northrop Grumman Corp. has been relatively stable over the past eight quarters, ranging between 0.82 and 0.86. This ratio indicates the company's ability to generate sales from its total assets. A lower total asset turnover may suggest underutilization of assets, while a higher ratio may indicate efficient asset utilization. Northrop Grumman's average total asset turnover during this period was 0.84, implying that for every dollar of assets the company holds, it generates $0.84 in sales. Further analysis of industry benchmarks and the company's historical data may provide additional insights into its asset utilization efficiency.