Amphastar P (AMPH)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	644,395	498,987	437,768	349,846	322,357
Total assets	US$ in thousands	1,512,910	741,987	671,529	631,236	586,971
Total asset turnover		0.43	0.67	0.65	0.55	0.55

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $644,395K ÷ $1,512,910K
= 0.43

Amphastar Pharmaceuticals Inc's total asset turnover has shown some fluctuations over the past five years. The total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate revenue.

In 2023, the total asset turnover ratio decreased to 0.43 from 0.67 in 2022, suggesting a decline in the company's ability to generate sales from its total assets. However, it is important to note that a low total asset turnover ratio may not always be negative, as it could be influenced by various factors such as industry dynamics or specific business strategies.

Comparing the 2023 total asset turnover to previous years, it is lower than the ratios of 2021, 2020, and 2019, indicating a potential decrease in efficiency in utilizing assets to generate sales compared to those years. This trend may raise concerns about the company's asset management and operational effectiveness.

Further analysis of the company's financial performance and industry benchmarks would be required to fully understand the implications of the fluctuating total asset turnover ratio and to assess the overall operational efficiency of Amphastar Pharmaceuticals Inc.