Zimmer Biomet Holdings Inc (ZBH)

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	7,171,500	7,054,100	6,993,800	6,933,800	6,780,400	6,827,800	7,061,000	7,290,300	7,452,200	7,716,200	7,722,600	6,923,200	6,840,900	6,881,300	6,840,200	7,596,700	7,805,400	7,750,700	7,677,500	7,646,100
Total assets	US$ in thousands	21,496,900	21,217,300	21,294,300	21,243,500	21,066,000	21,333,300	21,452,700	21,617,500	23,456,400	24,008,600	24,223,200	24,026,600	24,417,700	24,025,500	23,647,600	25,512,900	24,638,700	24,315,200	24,205,700	24,289,000
Total asset turnover		0.33	0.33	0.33	0.33	0.32	0.32	0.33	0.34	0.32	0.32	0.32	0.29	0.28	0.29	0.29	0.30	0.32	0.32	0.32	0.31

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $7,171,500K ÷ $21,496,900K
= 0.33

The total asset turnover of Zimmer Biomet Holdings Inc has been relatively stable over the last eight quarters, ranging between 0.33 and 0.35. This ratio indicates that for every dollar of total assets held by the company, it generates between $0.33 and $0.35 of revenue.

A total asset turnover ratio of less than 1 typically suggests that Zimmer Biomet Holdings Inc may not be efficiently utilizing its assets to generate sales. However, it is essential to consider the industry norms and compare the ratio with competitors to have a better understanding of the company's performance.

Overall, the consistency in the total asset turnover ratio over the past eight quarters implies that Zimmer Biomet Holdings Inc's asset utilization efficiency has remained relatively steady during this period. Further analysis, including a comparison with industry benchmarks and internal targets, would provide a more in-depth insight into the company's operational efficiency and financial health.