ADMA Biologics Inc (ADMA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 258,215 | 154,080 | 80,943 | 42,220 | 29,349 |
| Total assets | US$ in thousands | 329,182 | 348,461 | 276,253 | 207,673 | 127,091 |
| Total asset turnover | 0.78 | 0.44 | 0.29 | 0.20 | 0.23 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $258,215K ÷ $329,182K
= 0.78
The total asset turnover of ADMA Biologics Inc has shown an increasing trend over the past five years, with the ratio improving from 0.23 in 2019 to 0.78 in 2023. This indicates that the company has become more efficient in generating revenues from its assets.
A total asset turnover ratio of 0.78 in 2023 implies that the company generated $0.78 in revenue for every dollar of assets it held during the year. This signifies a significant improvement compared to the ratios of 0.44 in 2022, 0.29 in 2021, 0.20 in 2020, and 0.23 in 2019.
The upward trend in total asset turnover suggests that ADMA Biologics Inc has been utilizing its assets more effectively to generate sales, which could be attributed to operational efficiency, better asset management, or increased sales volume. Overall, a higher total asset turnover ratio indicates better asset utilization and efficiency, reflecting positively on the company's operational performance.
Peer comparison
Dec 31, 2023