Axcelis Technologies Inc (ACLS)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,130,600 | 919,998 | 662,428 | 474,560 | 342,958 |
| Total assets | US$ in thousands | 1,281,970 | 1,013,640 | 753,240 | 624,624 | 548,094 |
| Total asset turnover | 0.88 | 0.91 | 0.88 | 0.76 | 0.63 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,130,600K ÷ $1,281,970K
= 0.88
Axcelis Technologies Inc's total asset turnover has experienced fluctuations over the past five years. The ratio has ranged from 0.63 in 2019 to 0.91 in 2022, with the most recent value being 0.88 as of December 31, 2023. This indicates that, on average, the company generates $0.88 in revenue for every dollar of assets it owns.
A higher total asset turnover ratio generally implies that the company is more efficient in utilizing its assets to generate sales. The slight decrease from 0.91 in 2022 to 0.88 in 2023 may suggest a small decline in asset utilization efficiency. However, the ratio remains relatively stable over the years, indicating that Axcelis Technologies Inc has been able to consistently generate revenue in relation to its assets.
It is essential for the company to continue monitoring and managing its asset turnover to ensure optimal efficiency in utilizing its resources and generating revenue. Further analysis of the company's operational and financial strategies may provide insights into improving asset turnover and overall performance.
Peer comparison
Dec 31, 2023