Align Technology Inc (ALGN)

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	3,862,257	3,807,046	3,737,180	3,704,563	3,734,635	3,864,220	3,989,782	4,031,039	3,952,591	3,756,011	3,474,245	2,815,749	2,471,941	2,287,208	2,160,405	2,408,788	2,406,796	2,291,029	2,188,977	2,078,539
Total assets	US$ in thousands	6,083,880	6,318,550	6,144,550	5,901,450	5,947,950	5,912,800	5,810,120	5,943,410	5,942,110	5,650,110	5,395,570	5,069,780	4,829,680	4,415,090	4,025,860	3,964,840	2,500,700	2,350,380	2,346,020	2,234,430
Total asset turnover		0.63	0.60	0.61	0.63	0.63	0.65	0.69	0.68	0.67	0.66	0.64	0.56	0.51	0.52	0.54	0.61	0.96	0.97	0.93	0.93

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,862,257K ÷ $6,083,880K
= 0.63

Align Technology, Inc.'s total asset turnover has shown relatively consistent performance in recent quarters, with values ranging from 0.60 to 0.69. The total asset turnover ratio measures the efficiency of the company in generating sales revenue relative to its total assets. A higher ratio indicates better asset utilization.

The company's total asset turnover has remained relatively stable around the range of 0.60 to 0.69 over the past eight quarters. This indicates that Align Technology is effectively generating sales revenue using its total assets. While there has been some fluctuation in the ratio, it appears that the company has been able to maintain a consistent level of asset efficiency during this period.

It is essential for investors and analysts to monitor this ratio over time to assess whether the company is effectively managing its assets to drive revenue growth. A sustained improvement or decline in total asset turnover could signal changes in the company's operational efficiency or business strategy.