Thermo Fisher Scientific Inc (TMO)

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	41,415,000	42,229,000	42,518,000	42,979,000	44,225,000	42,978,000	41,676,000	40,005,000	37,933,000	38,365,000	37,540,000	35,169,000	31,689,000	28,090,000	25,821,000	25,176,000	25,008,000	24,686,000	24,336,000	24,109,000
Total assets	US$ in thousands	98,726,000	97,057,000	94,105,000	94,658,000	97,154,000	90,536,000	90,579,000	92,747,000	95,123,000	73,600,000	67,698,000	65,931,000	69,052,000	64,061,000	61,593,000	58,688,000	58,381,000	56,729,000	57,970,000	55,596,000
Total asset turnover		0.42	0.44	0.45	0.45	0.46	0.47	0.46	0.43	0.40	0.52	0.55	0.53	0.46	0.44	0.42	0.43	0.43	0.44	0.42	0.43

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $41,415,000K ÷ $98,726,000K
= 0.42

Thermo Fisher Scientific Inc.'s total asset turnover has shown consistency around the range of 0.43 to 0.49 over the past eight quarters. This indicates that, on average, the company generates between $0.43 to $0.49 in sales for every dollar of total assets it holds.

The overall trend suggests that the efficiency in utilizing its assets to generate revenue has been relatively stable. The slight fluctuations in the total asset turnover ratio may be attributed to changes in sales volume, asset base, or operational efficiency.

While a higher total asset turnover ratio is generally preferred as it signifies better asset utilization, it is important to consider the industry norms and company's specific circumstances to assess the effectiveness of Thermo Fisher Scientific Inc.'s asset management strategy.