Ryder System Inc (R)
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 | 11,783,000 | 11,848,000 | 11,959,000 | 12,109,000 | 12,011,000 | 11,523,090 | 10,947,140 | 10,295,380 | 9,663,000 | 9,275,750 | 8,967,280 | 8,480,320 | 8,420,010 | 8,483,720 | 8,557,070 | 8,906,780 | 8,925,800 | 8,909,410 | 8,845,160 | 8,690,070 |
| Total assets | US$ in thousands | 15,778,000 | 15,330,000 | 14,971,000 | 14,543,000 | 14,395,000 | 14,499,000 | 14,475,900 | 14,236,300 | 13,835,000 | 12,896,100 | 12,903,000 | 12,674,600 | 12,932,000 | 13,642,000 | 14,208,800 | 14,364,200 | 14,475,300 | 14,482,800 | 14,522,100 | 13,949,000 |
| Total asset turnover | 0.75 | 0.77 | 0.80 | 0.83 | 0.83 | 0.79 | 0.76 | 0.72 | 0.70 | 0.72 | 0.69 | 0.67 | 0.65 | 0.62 | 0.60 | 0.62 | 0.62 | 0.62 | 0.61 | 0.62 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $11,783,000K ÷ $15,778,000K
= 0.75
Total asset turnover is a key financial ratio used to assess a company's efficiency in generating revenue relative to its total assets. For Ryder System, Inc., the total asset turnover has fluctuated over the past eight quarters. The ratio has ranged from 0.72 to 0.83 during this period.
A total asset turnover ratio of less than 1 indicates that the company is generating less revenue per dollar of assets, which may raise concerns about operational efficiency. In the case of Ryder System, Inc., the ratio has been consistently below 1, which suggests that the company may not be utilizing its assets efficiently to generate revenue.
The decreasing trend from Q4 2022 to Q1 2023, followed by a slight increase in the subsequent quarters, indicates some volatility in how well the company is utilizing its assets. Investors and stakeholders should closely monitor this ratio to ensure that Ryder System, Inc. is effectively managing its asset base to drive revenue growth.
Peer comparison
Dec 31, 2023