Revenue divided by average total assets: how many dollars of sales each dollar of assets supports.
Asset turnover measures how hard a business works its assets. A grocer with thin margins survives on high turnover; a utility with heavy plant runs low turnover and needs higher margins. Multiplied by net profit margin it gives return on assets, so it is the half of ROA that pricing alone cannot fix.
Asset turnover = revenue / average total assets, with the average taken as (opening + closing) / 2 for the same period as the revenue. ROA = net profit margin x asset turnover.
Revenue of $3,000,000 on average total assets of $1,500,000 gives asset turnover of 2.0. With a net profit margin of 6% ($180,000), ROA is 6% x 2.0 = 12%.
Comparing companies that lease with companies that own, since leased assets may sit off or on the balance sheet differently, and reading a fall as inefficiency when it is a new plant not yet producing. The full guide is return on assets.