Nucor Corp (NUE)

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	34,713,500	35,732,930	37,458,000	39,729,240	41,512,560	43,153,000	42,965,400	39,960,060	36,483,900	31,379,560	25,994,320	21,532,470	20,139,670	20,011,360	20,547,900	22,116,580	22,588,860	23,752,990	25,030,690	25,595,470
Total assets	US$ in thousands	35,340,500	34,267,800	33,379,900	32,246,400	32,479,200	32,072,700	31,668,500	28,632,900	25,823,100	24,949,500	22,995,600	21,172,400	20,125,400	19,519,300	18,766,000	17,866,100	18,344,700	18,506,300	18,126,500	18,086,700
Total asset turnover		0.98	1.04	1.12	1.23	1.28	1.35	1.36	1.40	1.41	1.26	1.13	1.02	1.00	1.03	1.09	1.24	1.23	1.28	1.38	1.42

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $34,713,500K ÷ $35,340,500K
= 0.98

The total asset turnover ratio for Nucor Corp. has exhibited a fluctuating trend over the past eight quarters. During Q1 2022, the company generated $1.40 in revenue for every dollar of assets it held, indicating efficient asset utilization. Subsequently, the ratio declined gradually, reaching its lowest point of 0.98 in Q4 2023. This decrease suggests a relative decrease in revenue generated per dollar of assets during this period.

Fluctuations in total asset turnover may indicate varying levels of operational efficiency and asset utilization within Nucor Corp. Higher ratios, such as those observed in Q1 2022, are generally favorable as they signify that the company is generating more revenue relative to its asset base. Conversely, lower ratios, like the one recorded in Q4 2023, may point to potential inefficiencies in asset management or declining revenue generation capabilities.

It would be important for stakeholders to investigate the factors contributing to the fluctuations in total asset turnover to better understand Nucor Corp.'s operational performance and ability to effectively utilize its assets to generate revenue.