Reliance Steel & Aluminum Co (RS)
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 | 14,805,900 | 15,095,900 | 15,714,200 | 16,509,200 | 17,025,000 | 17,403,100 | 17,003,300 | 15,740,800 | 14,093,300 | 12,238,900 | 10,477,000 | 9,078,600 | 8,811,900 | 9,146,800 | 9,742,300 | 10,597,400 | 10,974,000 | 11,271,800 | 11,580,900 | 11,710,000 |
| Total assets | US$ in thousands | 10,480,300 | 10,492,900 | 10,440,400 | 10,203,200 | 10,329,900 | 10,202,200 | 10,402,700 | 10,114,200 | 9,536,000 | 9,252,400 | 8,930,000 | 8,549,000 | 8,106,800 | 7,998,700 | 7,724,100 | 8,085,500 | 8,131,100 | 8,130,900 | 8,327,100 | 8,504,200 |
| Total asset turnover | 1.41 | 1.44 | 1.51 | 1.62 | 1.65 | 1.71 | 1.63 | 1.56 | 1.48 | 1.32 | 1.17 | 1.06 | 1.09 | 1.14 | 1.26 | 1.31 | 1.35 | 1.39 | 1.39 | 1.38 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $14,805,900K ÷ $10,480,300K
= 1.41
The total asset turnover of Reliance Steel & Aluminum Co. has shown a declining trend over the last few quarters, dropping from 1.71 in Q3 2022 to 1.41 in Q4 2023. This indicates that the company is generating less revenue for each dollar of assets it owns. The peak total asset turnover of 1.71 in Q3 2022 suggests that the company was more efficient in utilizing its assets to generate sales at that time. The decreasing trend since then may signal potential inefficiencies in asset utilization or declining sales relative to assets. Further investigation into the reasons behind this decline in total asset turnover would be necessary to assess the financial health and operational efficiency of Reliance Steel & Aluminum Co.
Peer comparison
Dec 31, 2023