O’Reilly Automotive Inc (ORLY)

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	15,673,280	15,485,750	15,089,740	14,703,610	14,301,060	13,948,060	13,635,980	13,430,250	13,222,560	12,759,840	12,481,270	12,103,380	11,487,200	11,141,410	10,606,010	10,111,240	10,049,160	9,881,140	9,700,550	9,569,440
Total assets	US$ in thousands	13,873,000	13,551,800	13,276,600	12,972,800	12,628,000	12,238,000	12,067,700	11,760,400	11,718,700	11,789,400	11,949,300	11,850,900	11,596,600	12,504,000	11,728,500	11,108,900	10,717,200	10,372,700	10,201,900	10,061,600
Total asset turnover		1.13	1.14	1.14	1.13	1.13	1.14	1.13	1.14	1.13	1.08	1.04	1.02	0.99	0.89	0.90	0.91	0.94	0.95	0.95	0.95

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $15,673,280K ÷ $13,873,000K
= 1.13

Based on the quarterly data provided, O`Reilly Automotive, Inc.'s total asset turnover ratio has remained relatively stable over the eight consecutive quarters ending Q4 2023, ranging between 1.14 and 1.15. This indicates that the company generates $1.14 to $1.15 in sales for every dollar of assets it owns.

Consistently high total asset turnover ratios suggest that O`Reilly Automotive is efficiently utilizing its assets to generate revenue. A ratio of 1.14 to 1.15 implies that the company is effectively managing its assets to generate sales and is likely achieving a good balance between asset investment and revenue generation.

This stable and relatively high total asset turnover ratio may be indicative of efficient asset management and operational performance within O`Reilly Automotive, contributing to its overall financial health and sustainability. It suggests that the company is effectively utilizing its resources to drive sales and maximize shareholder value.