Standard Motor Products Inc (SMP)

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	2,701,423	2,718,401	2,708,286	2,722,422	2,715,865	2,739,824	2,720,702	2,687,356	2,595,396	2,259,260	2,206,048	2,017,497	1,972,331	1,930,845	1,858,027	1,971,543	2,030,255	2,035,973	2,014,034	1,977,475
Total assets	US$ in thousands	1,293,050	1,299,930	1,302,140	1,320,020	1,254,930	1,318,730	1,326,550	1,310,410	1,197,960	1,195,730	1,155,280	976,482	956,540	950,997	944,765	940,711	903,854	920,683	969,527	912,734
Total asset turnover		2.09	2.09	2.08	2.06	2.16	2.08	2.05	2.05	2.17	1.89	1.91	2.07	2.06	2.03	1.97	2.10	2.25	2.21	2.08	2.17

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,701,423K ÷ $1,293,050K
= 2.09

Standard Motor Products, Inc.'s total asset turnover has exhibited relatively stable performance over the past eight quarters, ranging from 1.03 to 1.09. This ratio measures the company's ability to generate sales revenue from its total assets. A total asset turnover ratio above 1 indicates that the company is effectively utilizing its assets to generate revenue.

The consistency of total asset turnover around the range of 1.03 to 1.09 suggests that Standard Motor Products has been maintaining a solid level of efficiency in using its assets to generate sales across multiple quarters. While the ratio has fluctuated slightly, the overall trend indicates that the company is effectively managing its assets to drive revenue generation.

It is important for investors and stakeholders to continue monitoring this ratio to assess the company's ongoing operational efficiency and financial health.