Steel Dynamics Inc (STLD)

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	18,718,840	19,388,190	20,452,840	21,584,090	22,260,780	22,745,150	22,181,730	20,434,160	18,408,860	15,699,440	12,941,980	10,570,970	9,601,470	9,350,430	9,546,440	10,222,660	10,465,000	11,018,690	11,715,400	12,035,400
Total assets	US$ in thousands	14,908,400	14,929,000	14,551,400	14,219,800	14,160,000	14,047,700	13,711,200	13,056,600	12,531,200	11,536,000	10,687,300	10,127,900	9,265,560	8,617,560	8,468,340	8,344,920	8,275,760	7,943,250	7,857,910	7,857,230
Total asset turnover		1.26	1.30	1.41	1.52	1.57	1.62	1.62	1.57	1.47	1.36	1.21	1.04	1.04	1.09	1.13	1.23	1.26	1.39	1.49	1.53

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $18,718,840K ÷ $14,908,400K
= 1.26

Steel Dynamics Inc.'s total asset turnover has shown a general declining trend over the past two years, from 1.57 in Q4 2022 to 1.26 in Q4 2023. This ratio measures the company's ability to generate revenue from its assets, and the decreasing trend may indicate inefficiencies in asset utilization or slowing revenue growth relative to asset expansion.

The fluctuations in total asset turnover over the last eight quarters suggest varying levels of operational efficiency or changes in the overall business environment. It is essential for the company to closely monitor this metric and assess the effectiveness of its asset management strategies to improve operational efficiency and maximize revenue generation from its assets.