Amphastar P (AMPH)

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	644,395	601,313	540,886	518,641	498,987	484,851	476,920	455,116	437,768	412,802	384,035	368,178	349,846	337,308	334,014	327,255	322,357	328,664	324,070	316,063
Total assets	US$ in thousands	1,512,910	1,544,630	1,378,270	773,656	741,987	726,695	723,719	716,238	671,529	651,677	665,745	645,738	631,236	613,718	600,058	572,831	586,971	585,636	601,301	544,718
Total asset turnover		0.43	0.39	0.39	0.67	0.67	0.67	0.66	0.64	0.65	0.63	0.58	0.57	0.55	0.55	0.56	0.57	0.55	0.56	0.54	0.58

December 31, 2023 calculation

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

The total asset turnover ratio of Amphastar Pharmaceuticals Inc has shown fluctuations over the past eight quarters. The ratio ranged from 0.39 to 0.67 during this period, indicating how efficiently the company is generating revenue from its total assets. A lower ratio suggests that the company is less efficient in generating sales from its assets, while a higher ratio indicates a better utilization of assets to generate revenue.

In the most recent quarter (Q4 2023), the total asset turnover ratio was 0.43, which reflects a decrease from the previous quarter's ratio of 0.39. This decrease may suggest that the company's asset management and utilization in revenue generation may have weakened during this period.

On the other hand, there were quarters such as Q1 2023 and Q4 2022 where the total asset turnover ratio was relatively higher at 0.67. During these periods, Amphastar Pharmaceuticals Inc demonstrated better efficiency in utilizing its assets to generate revenue.

Overall, it would be advisable for stakeholders to closely monitor the trend of the total asset turnover ratio to assess the company's efficiency in utilizing assets for revenue generation and to identify any potential areas for improvement in asset management.