Axon Enterprise Inc. (AXON)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,082,530 | 1,563,390 | 1,189,940 | 863,381 | 681,003 |
| Total assets | US$ in thousands | 4,474,590 | 3,436,840 | 2,851,890 | 1,688,210 | 1,381,020 |
| Total asset turnover | 0.47 | 0.45 | 0.42 | 0.51 | 0.49 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,082,530K ÷ $4,474,590K
= 0.47
Total asset turnover is a key financial ratio that measures a company's efficiency in generating sales revenue from its total assets. For Axon Enterprise Inc., the trend in total asset turnover over the past five years shows a relatively stable performance.
In December 31, 2020, the total asset turnover ratio was 0.49, indicating that for every dollar of assets, the company generated $0.49 of revenue. This ratio improved slightly to 0.51 by December 31, 2021, suggesting that the company became more efficient in utilizing its assets to generate sales.
However, there was a decline in total asset turnover to 0.42 by December 31, 2022, which could indicate potential inefficiencies in asset utilization or changes in the company's sales strategy. The ratio slightly improved to 0.45 by December 31, 2023, and further to 0.47 by December 31, 2024, but it still remained below the level in 2021.
Overall, while the company's total asset turnover ratio has fluctuated over the five-year period, it seems that Axon Enterprise Inc. may need to focus on improving its efficiency in generating sales revenue from its total assets to enhance overall financial performance.
Peer comparison
Dec 31, 2024