Paycom Soft (PAYC)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,690,500	1,374,390	1,054,600	839,422	735,275
Total assets	US$ in thousands	4,197,540	3,902,510	3,215,140	2,607,910	2,486,920
Total asset turnover		0.40	0.35	0.33	0.32	0.30

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,690,500K ÷ $4,197,540K
= 0.40

Paycom Software Inc's total asset turnover has shown a positive trend over the past five years, increasing from 0.30 in 2019 to 0.40 in 2023. This indicates that the company is generating more revenue per dollar of assets invested. A higher total asset turnover ratio suggests that the company is utilizing its assets more efficiently to generate sales. It is essential to monitor this ratio over time to ensure that the company is effectively managing its assets and maximizing revenue generation.