Valero Energy Corporation (VLO)

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	144,216,000	150,596,000	156,657,000	173,795,000	175,838,000	169,727,000	154,779,000	130,878,000	113,188,000	94,227,000	80,668,000	63,467,000	64,912,000	76,187,000	87,627,000	106,163,000	108,324,000	109,175,000	112,775,000	114,857,000
Total assets	US$ in thousands	63,056,000	63,175,000	60,667,000	60,177,000	60,982,000	59,329,000	64,345,000	60,402,000	57,888,000	54,691,000	55,456,000	53,614,000	51,774,000	51,732,000	49,099,000	47,747,000	53,864,000	51,229,000	52,022,000	52,095,000
Total asset turnover		2.29	2.38	2.58	2.89	2.88	2.86	2.41	2.17	1.96	1.72	1.45	1.18	1.25	1.47	1.78	2.22	2.01	2.13	2.17	2.20

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $144,216,000K ÷ $63,056,000K
= 2.29

The total asset turnover ratio for Valero Energy Corp. has ranged between 2.18 and 2.90 over the last eight quarters. This ratio indicates how efficiently the company generates revenue from its assets. A higher ratio suggests that Valero is utilizing its assets effectively to generate sales. Across the quarters, there has been a general upward trend in total asset turnover, with a peak of 2.90 in Q1 2023. This improvement could indicate increased operational efficiency or better asset management by the company. However, it is essential to further investigate the factors driving these changes to assess the overall financial health and performance of Valero Energy Corp.