World Kinect Corporation (WKC)
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 | 47,710,600 | 49,585,300 | 53,001,300 | 59,142,700 | 59,043,100 | 55,108,200 | 47,797,800 | 37,761,200 | 31,337,100 | 26,096,400 | 22,228,200 | 18,301,000 | 20,358,300 | 25,014,300 | 29,854,300 | 36,155,400 | 36,819,000 | 37,449,500 | 38,556,300 | 39,247,700 |
| Total assets | US$ in thousands | 7,375,300 | 7,483,100 | 6,961,900 | 7,485,800 | 8,164,600 | 7,970,300 | 8,795,700 | 7,968,000 | 5,942,400 | 5,544,300 | 5,249,800 | 4,925,400 | 4,500,300 | 4,392,300 | 4,881,000 | 5,498,900 | 5,992,400 | 5,797,500 | 5,751,200 | 5,733,200 |
| Total asset turnover | 6.47 | 6.63 | 7.61 | 7.90 | 7.23 | 6.91 | 5.43 | 4.74 | 5.27 | 4.71 | 4.23 | 3.72 | 4.52 | 5.70 | 6.12 | 6.58 | 6.14 | 6.46 | 6.70 | 6.85 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $47,710,600K ÷ $7,375,300K
= 6.47
Based on the total asset turnover data provided for World Kinect Corp from Q4 2022 to Q4 2023, there is a noticeable increasing trend in the company's efficiency in generating sales from its total assets.
The total asset turnover ratio has consistently improved from 4.74 in Q1 2022 to 7.90 in Q1 2023, indicating that World Kinect Corp has been utilizing its assets more effectively to generate revenue over time. This suggests that the company has been able to generate more sales for each unit of assets held on its balance sheet.
The highest total asset turnover ratio was recorded in Q2 2023 at 7.61, indicating a peak in the company's efficiency in utilizing its assets to generate sales. This may suggest improvements in the company's operational efficiency and overall asset management strategies during that period.
Overall, the increasing trend in total asset turnover ratios reflects positively on World Kinect Corp's ability to efficiently utilize its assets to drive revenue growth and indicates that the company is effectively managing its assets to generate higher sales volumes.