Vulcan Materials Company (VMC)

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	7,782,000	7,679,600	7,582,100	7,423,500	7,315,200	7,189,600	6,617,800	6,024,500	5,552,100	5,120,920	4,914,310	4,875,890	4,856,830	4,867,860	4,976,730	4,981,830	4,929,101	4,831,001	4,652,441	4,524,911
Total assets	US$ in thousands	14,545,700	14,620,500	14,333,600	14,076,900	14,234,600	14,615,800	14,181,500	13,860,800	13,682,600	13,688,000	11,571,000	11,332,800	11,686,900	11,590,500	11,398,700	10,629,400	10,648,800	10,539,700	10,480,800	10,296,900
Total asset turnover		0.54	0.53	0.53	0.53	0.51	0.49	0.47	0.43	0.41	0.37	0.42	0.43	0.42	0.42	0.44	0.47	0.46	0.46	0.44	0.44

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $7,782,000K ÷ $14,545,700K
= 0.54

The total asset turnover ratio measures a company's efficiency in generating sales revenue relative to its total assets. Vulcan Materials Co has consistently maintained a total asset turnover ratio around 0.53 over the past four quarters, indicating that for every dollar of assets the company holds, it generates approximately $0.53 in sales revenue.

The stable total asset turnover ratio suggests that Vulcan Materials Co is effectively utilizing its assets to generate revenue. Comparing to the previous year, the company has exhibited a slight improvement in its efficiency as the ratio has increased from 0.51 in Q4 2022 to 0.53 in Q4 2023.

Overall, the trend in Vulcan Materials Co's total asset turnover ratio indicates a consistent and efficient use of assets to drive sales. This stability suggests that the company is effectively managing its operations and capital investments in a manner that is yielding positive results in terms of revenue generation.