Amgen Inc (AMGN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 25,568,000 | 51,272,000 | 50,799,000 | 25,424,000 | 23,362,000 |
| Total assets | US$ in thousands | 97,154,000 | 65,121,000 | 61,165,000 | 62,948,000 | 59,707,000 |
| Total asset turnover | 0.26 | 0.79 | 0.83 | 0.40 | 0.39 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $25,568,000K ÷ $97,154,000K
= 0.26
The total asset turnover ratio for AMGEN Inc. has shown a decline over the past five years. In 2023, the total asset turnover was 0.29, down from 0.40 in 2022, and a decrease from 0.42 in 2021. This suggests that the company generated $0.29 in revenue for every dollar of assets in 2023, indicating a lower efficiency in utilizing its assets to generate sales compared to the previous years. The decreasing trend in the total asset turnover ratio may indicate potential inefficiencies in AMGEN Inc.'s asset management or declining revenue generation capabilities. Further analysis would be necessary to determine the root causes of this decline and to recommend potential strategies for improvement.
Peer comparison
Dec 31, 2023