NOV Inc. (NOV)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	8,869,000	8,899,000	8,893,000	8,770,000	8,578,000	8,313,000	8,017,000	7,651,000	7,237,000	6,681,000	6,133,000	5,823,000	5,524,000	5,334,000	5,377,000	5,456,000	6,090,000	7,044,000	7,786,000	8,422,000
Total assets	US$ in thousands	11,361,000	11,422,000	11,297,000	11,305,000	11,294,000	10,498,000	10,446,000	10,177,000	10,135,000	9,761,000	9,700,000	9,553,000	9,550,000	9,567,000	9,601,000	9,672,000	9,929,000	10,168,000	10,447,000	10,690,000
Total asset turnover		0.78	0.78	0.79	0.78	0.76	0.79	0.77	0.75	0.71	0.68	0.63	0.61	0.58	0.56	0.56	0.56	0.61	0.69	0.75	0.79

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,869,000K ÷ $11,361,000K
= 0.78

Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. For NOV Inc., the total asset turnover has trended downwards from 0.79 on March 31, 2020, to 0.78 on December 31, 2024. This indicates that the company is becoming less effective in generating revenue relative to its total assets over the period under review. The ratio has fluctuated within a range of 0.56 to 0.79 during this time frame, with some slight variations in efficiency.

Overall, the decreasing trend in the total asset turnover may suggest potential inefficiencies in asset utilization or a decrease in revenue generation relative to asset levels. It would be essential for NOV Inc. to further analyze the factors contributing to this trend to optimize its asset management and enhance overall operational performance.