United Rentals Inc (URI)

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	14,332,000	13,900,000	13,186,000	12,403,000	11,642,000	11,122,000	10,667,000	10,183,000	9,716,000	9,219,000	8,810,000	8,462,000	8,530,000	8,707,000	9,008,000	9,359,000	9,351,000	9,201,000	8,829,000	8,430,000
Total assets	US$ in thousands	25,589,000	25,832,000	25,506,000	24,629,000	24,183,000	21,419,000	20,820,000	20,169,000	20,292,000	20,306,000	19,641,000	17,542,000	17,868,000	17,908,000	17,900,000	18,868,000	18,970,000	19,405,000	19,047,000	18,586,000
Total asset turnover		0.56	0.54	0.52	0.50	0.48	0.52	0.51	0.50	0.48	0.45	0.45	0.48	0.48	0.49	0.50	0.50	0.49	0.47	0.46	0.45

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $14,332,000K ÷ $25,589,000K
= 0.56

United Rentals, Inc.'s total asset turnover has shown a consistent trend of improvement over the past eight quarters. The ratio indicates that the company generated $0.56 in sales for every dollar of total assets at the end of December 2023, compared to $0.54 in September 2023 and $0.48 at the end of December 2022. This suggests that the company has become more effective in utilizing its assets to generate revenue. The increasing trend in total asset turnover reflects positively on the efficiency of United Rentals in generating sales relative to its asset base.