Tesla Inc (TSLA)

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	96,773,000	95,924,000	94,028,000	86,035,000	81,462,000	74,863,000	67,166,000	62,190,000	53,823,000	46,848,000	41,862,000	35,940,000	31,536,000	28,176,000	25,708,000	26,022,000	24,578,000	24,420,000	24,941,000	22,593,000
Total assets	US$ in thousands	106,618,000	93,941,000	90,591,000	86,833,000	82,338,000	74,426,000	68,513,000	66,038,000	62,131,000	57,834,000	55,146,000	52,972,000	52,148,000	45,691,000	38,135,000	37,250,000	34,309,000	32,795,000	31,872,600	28,912,500
Total asset turnover		0.91	1.02	1.04	0.99	0.99	1.01	0.98	0.94	0.87	0.81	0.76	0.68	0.60	0.62	0.67	0.70	0.72	0.74	0.78	0.78

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $96,773,000K ÷ $106,618,000K
= 0.91

The total asset turnover ratio measures the efficiency of a company in utilizing its total assets to generate sales. A higher ratio indicates better asset utilization. From the data provided, Tesla Inc's total asset turnover has fluctuated over the past eight quarters.
The ratio was at 0.89 on Dec 31, 2023, indicating that the company generated $0.89 in sales for every dollar of assets. This ratio increased to 1.00 on Sep 30, 2023, and further to 1.02 on Jun 30, 2023, suggesting improved asset utilization during these periods. However, the ratio decreased to 0.97 on both Mar 31, 2023, and Dec 31, 2022, and remained constant at 0.97 on Sep 30, 2022, and 0.94 on Jun 30, 2022. Finally, the ratio rose slightly to 0.91 on Mar 31, 2022.
This fluctuation indicates varying levels of efficiency in utilizing assets to generate sales over the examined periods. It would be important to further analyze the company's operations and financial performance to understand the reasons behind these fluctuations in the total asset turnover ratio.