Oceaneering International Inc (OII)

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	2,424,706	2,306,300	2,230,791	2,156,912	2,066,084	1,996,570	1,903,713	1,877,881	1,869,275	1,826,828	1,799,757	1,728,774	1,827,889	1,964,437	2,022,341	2,090,906	2,048,124	1,982,409	2,004,062	1,986,955
Total assets	US$ in thousands	2,239,010	2,312,450	2,164,870	2,042,480	2,031,680	1,922,830	1,872,420	1,902,000	1,962,860	1,981,970	2,061,550	2,003,520	2,045,840	2,037,700	2,128,780	2,165,100	2,740,660	2,885,690	2,938,640	2,971,520
Total asset turnover		1.08	1.00	1.03	1.06	1.02	1.04	1.02	0.99	0.95	0.92	0.87	0.86	0.89	0.96	0.95	0.97	0.75	0.69	0.68	0.67

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,424,706K ÷ $2,239,010K
= 1.08

Oceaneering International, Inc.'s total asset turnover has been relatively stable over the past eight quarters, with values ranging from 0.99 to 1.08. This ratio indicates that the company generates between $0.99 to $1.08 in revenue for every dollar of assets it holds.

The average total asset turnover for the period is approximately 1.03, suggesting that, on average, the company effectively utilizes its assets to generate revenue. A total asset turnover above 1 indicates efficient asset utilization.

While there are slight fluctuations in the ratio over the quarters, the overall consistency suggests that Oceaneering International, Inc. has been maintaining a relatively efficient use of its assets in generating sales. Further analysis of the company's financial performance and industry benchmarks could provide more insights into its asset management effectiveness.