Paycom Soft (PAYC)

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	1,691,704	1,627,240	1,554,308	1,470,341	1,373,921	1,289,146	1,211,791	1,137,067	1,054,755	990,668	931,006	870,744	841,015	813,477	792,091	779,562	736,337	693,260	651,802	611,547
Total assets	US$ in thousands	4,197,540	3,856,100	3,951,340	4,241,620	3,902,510	3,314,570	4,891,700	5,444,570	3,215,140	4,218,040	3,233,090	3,406,770	2,607,910	2,485,200	1,921,500	2,309,720	2,486,920	1,592,030	1,826,190	2,062,830
Total asset turnover		0.40	0.42	0.39	0.35	0.35	0.39	0.25	0.21	0.33	0.23	0.29	0.26	0.32	0.33	0.41	0.34	0.30	0.44	0.36	0.30

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,691,704K ÷ $4,197,540K
= 0.40

Total asset turnover is a financial ratio that measures a company's ability to generate revenue relative to its total assets. It indicates how efficiently a company is utilizing its assets to generate sales.

Paycom Software Inc's total asset turnover has varied over the past eight quarters. In Q4 2023, the total asset turnover was 0.40, which means that for every dollar of total assets, the company generated $0.40 in revenue. This suggests a moderate efficiency in asset utilization.

Comparing this to the previous quarters, the total asset turnover fluctuated between 0.21 and 0.42. The highest ratio was in Q3 2023 at 0.42, indicating improved efficiency in asset utilization, while the lowest was in Q1 2022 at 0.21, suggesting lower effectiveness in generating revenue relative to total assets.

Overall, the trend in Paycom Software Inc's total asset turnover shows some volatility, with periods of improved efficiency followed by decreases in asset utilization. Further analysis and monitoring of this ratio are recommended to understand the company's performance and asset management strategies.