PACCAR Inc (PCAR)

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	35,127,400	34,180,300	32,542,800	30,820,400	28,819,700	27,376,300	25,464,200	24,149,400	23,522,300	22,404,800	22,194,000	19,412,300	18,728,500	19,277,100	20,708,100	24,273,800	25,599,700	25,762,200	25,152,000	24,329,300
Total assets	US$ in thousands	40,823,400	38,039,500	36,867,700	34,826,400	33,275,500	30,623,600	30,588,700	30,586,100	29,509,400	27,909,900	29,012,200	28,503,400	28,450,000	27,233,700	26,406,400	27,294,700	28,361,100	27,767,700	27,168,200	26,157,000
Total asset turnover		0.86	0.90	0.88	0.88	0.87	0.89	0.83	0.79	0.80	0.80	0.76	0.68	0.66	0.71	0.78	0.89	0.90	0.93	0.93	0.93

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $35,127,400K ÷ $40,823,400K
= 0.86

The total asset turnover ratio for Paccar Inc. has ranged between 0.79 and 0.90 over the past eight quarters. This ratio indicates how efficiently the company is generating sales revenue from its total assets.

A higher total asset turnover ratio is generally desirable as it suggests that the company is effectively utilizing its assets to generate sales. Paccar's total asset turnover has been relatively stable, hovering around the 0.88 mark in recent quarters.

The consistency in total asset turnover indicates that Paccar is maintaining a relatively stable level of efficiency in generating sales from its assets. However, a slight decline in the ratio could indicate that the company may need to improve its asset utilization in order to boost sales revenue relative to its total assets.