Avanos Medical Inc (AVNS)

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	619,900	735,200	767,700	802,100	810,000	788,200	772,300	757,500	741,300	731,000	729,200	703,100	699,300	702,400	688,900	698,200	682,600	663,500	656,500	638,800
Total assets	US$ in thousands	1,692,400	1,724,900	1,666,700	1,734,900	1,786,900	1,775,200	1,752,800	1,766,500	1,603,600	1,597,900	1,683,300	1,648,800	1,672,800	1,799,100	1,755,900	1,763,700	1,799,600	1,807,700	1,783,400	1,834,000
Total asset turnover		0.37	0.43	0.46	0.46	0.45	0.44	0.44	0.43	0.46	0.46	0.43	0.43	0.42	0.39	0.39	0.40	0.38	0.37	0.37	0.35

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $619,900K ÷ $1,692,400K
= 0.37

Total Asset Turnover is a financial ratio that measures how efficiently a company generates revenue from its total assets. It indicates the company's ability to utilize its assets in generating sales.

Analyzing the trend in Avanos Medical Inc's total asset turnover, we observe fluctuations over the past eight quarters. The ratio ranged from 0.40 to 0.47 during this period.

In Q4 2023, the total asset turnover stood at 0.40, representing a decrease from the previous quarter. This suggests that Avanos Medical Inc generated $0.40 in revenue for every dollar invested in total assets during the quarter.

In contrast, there was an increase in total asset turnover in Q2 2023 and Q1 2023, both at 0.47. This indicates that the company became more efficient in utilizing its assets to generate revenue during these periods.

Overall, while Avanos Medical Inc's total asset turnover has shown some variability, it remains relatively stable around the range of 0.40 to 0.47. Further analysis of operational and strategic factors may be necessary to fully understand the dynamics behind these fluctuations in total asset turnover.