Texas Instruments Incorporated (TXN)

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	17,508,000	18,112,000	18,821,000	19,502,000	20,028,000	20,190,000	19,592,000	18,960,000	18,344,000	17,588,000	16,762,000	15,421,000	14,461,000	13,735,000	13,689,000	14,118,000	14,383,000	14,750,000	15,240,000	15,589,000
Total assets	US$ in thousands	32,348,000	31,638,000	30,939,000	29,220,000	27,207,000	26,057,000	24,723,000	25,276,000	24,676,000	23,273,000	20,603,000	19,639,000	19,351,000	18,207,000	17,445,000	17,283,000	18,018,000	17,992,000	17,384,000	17,443,000
Total asset turnover		0.54	0.57	0.61	0.67	0.74	0.77	0.79	0.75	0.74	0.76	0.81	0.79	0.75	0.75	0.78	0.82	0.80	0.82	0.88	0.89

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $17,508,000K ÷ $32,348,000K
= 0.54

Texas Instruments Inc.'s total asset turnover has shown a decreasing trend over the past eight quarters, starting at 0.75 in Q1 2022 and declining to 0.54 in Q4 2023. This indicates that the company's ability to generate sales from its total assets has weakened over time. A lower total asset turnover ratio suggests that the company is less efficient in utilizing its assets to generate revenue.

The declining trend in total asset turnover may be a cause for concern as it could indicate inefficiencies in the company's operations or a decrease in sales relative to its asset base. Management should closely monitor and assess the factors contributing to this trend to make necessary adjustments and improve the company's asset utilization efficiency.