Vulcan Materials Company (VMC)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	7,781,900	7,315,200	5,552,200	4,856,800	4,929,100
Total assets	US$ in thousands	14,545,700	14,234,600	13,682,600	11,686,900	10,648,800
Total asset turnover		0.53	0.51	0.41	0.42	0.46

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $7,781,900K ÷ $14,545,700K
= 0.53

Vulcan Materials Co's total asset turnover has shown a fluctuating trend over the past five years. The ratio increased from 0.42 in 2020 to 0.51 in 2022 before slightly decreasing to 0.53 in 2023. This indicates that the company generated $0.53 in sales for every $1 of assets in 2023.

A rising total asset turnover ratio suggests that the company is more efficient in utilizing its assets to generate revenue. However, it is important to note that the ratio was comparatively low in 2021 at 0.41, indicating a potential inefficiency in asset utilization during that year.

Overall, Vulcan Materials Co's total asset turnover has shown some improvement over the years, suggesting better efficiency in generating sales from its assets, but there may be fluctuations that require further investigation. To gain a more comprehensive understanding, it would be beneficial to conduct a deeper analysis of the company's operations and financial performance during each respective year.