Stryker Corporation (SYK)

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	20,498,000	19,885,000	19,455,000	18,952,000	18,449,000	17,948,000	17,629,000	17,430,000	17,108,000	16,669,000	16,246,000	14,716,000	14,351,000	14,220,000	14,070,000	14,956,000	14,884,000	14,549,000	14,204,000	13,876,000
Total assets	US$ in thousands	39,912,000	38,042,000	37,409,000	36,830,000	36,884,000	35,983,000	36,032,000	36,137,000	34,631,000	34,145,000	33,698,000	33,455,000	34,330,000	32,286,000	31,483,000	29,440,000	30,167,000	26,659,000	26,354,000	25,937,000
Total asset turnover		0.51	0.52	0.52	0.51	0.50	0.50	0.49	0.48	0.49	0.49	0.48	0.44	0.42	0.44	0.45	0.51	0.49	0.55	0.54	0.53

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $20,498,000K ÷ $39,912,000K
= 0.51

Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. It indicates the company's ability to generate sales in relation to its total assets. Stryker Corp.'s total asset turnover has been relatively stable over the past eight quarters, ranging from 0.48 to 0.52.

The consistent total asset turnover around 0.50 suggests that Stryker is effectively using its assets to generate sales revenue. A higher total asset turnover generally indicates better asset utilization efficiency, as the company is generating more revenue per dollar of assets.

Overall, Stryker Corp.'s total asset turnover trend indicates a steady and efficient use of assets to drive sales over the quarters analyzed. Further assessment and comparison with industry benchmarks can provide more insights into the company's operational efficiency and competitiveness.