ANI Pharmaceuticals Inc (ANIP)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 454,334 | 287,962 | 202,731 | 198,984 | 206,547 |
| Total assets | US$ in thousands | 904,422 | 760,087 | 771,598 | 461,190 | 456,789 |
| Total asset turnover | 0.50 | 0.38 | 0.26 | 0.43 | 0.45 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $454,334K ÷ $904,422K
= 0.50
Over the past five years, ANI Pharmaceuticals Inc's total asset turnover has fluctuated, ranging from 0.28 in 2021 to 0.54 in 2023. The total asset turnover ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is effectively utilizing its assets to generate sales.
In 2021, ANI Pharmaceuticals Inc had a total asset turnover of 0.28, suggesting that the company generated $0.28 in sales for every dollar of total assets. This indicates a lower level of efficiency in asset utilization compared to the other years in the dataset.
On the other hand, in 2023, the total asset turnover improved to 0.54, signaling that the company generated $0.54 in sales for each dollar of total assets. This signifies an enhancement in asset utilization efficiency, potentially through better inventory management, higher sales volume, or improved operational effectiveness.
Overall, ANI Pharmaceuticals Inc's total asset turnover has shown variability over the years, with fluctuations that could be attributed to changes in operational strategies, market conditions, or asset management practices. An increasing trend in total asset turnover indicates improved efficiency in utilizing assets to drive sales, which is generally viewed positively by investors and stakeholders.
Peer comparison
Dec 31, 2023