S&P 500 Aggregate Asset Turnover Ratio (TTM)

Live value temporarily unavailable.

Source: Company filings (aggregated)

Data updated daily

What it measures

The S&P 500 asset turnover ratio measures aggregate trailing-twelve-month revenue generated per dollar of average total assets for index constituents. A turnover of 0.65x means the index generates $0.65 of revenue for every $1 of total assets on its balance sheet — the higher the ratio, the more efficiently assets are being converted into sales.

Why it matters

Asset turnover is one of the three components of the DuPont decomposition of ROE (ROE = Net Margin × Asset Turnover × Equity Multiplier). It isolates the contribution of asset utilization efficiency to overall equity returns. Declining asset turnover at the index level can signal over-investment — too much capital deployed relative to revenue generated — which is a leading indicator of future ROIC compression. The secular shift toward asset-light business models in the S&P 500 has structurally reduced index-level turnover while expanding margins, so trend analysis requires adjusting for the index's evolving sector composition.

How it is calculated

Asset Turnover (TTM) = Σ TTM Revenue ÷ Σ Average Total Assets

LENSE computes the S&P 500 asset turnover as the ratio of aggregate TTM revenue to aggregate average total assets — not a simple average of per-company ratios. TTM revenue is constructed by summing the four most recently reported fiscal quarters per constituent using as-reported figures. Average total assets is the mean of beginning- and end-of-period balance sheet totals. Constituents with zero average total assets are excluded. Index constituency is resolved point-in-time using point-in-time index constituency.

Recent (monthly)

Recent data unavailable.

Data source: Company filings (aggregated). Computed and published by LENSE Analytics.