Axon Enterprise Inc. (AXON)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,576,710	1,185,750	858,072	679,336	528,619
Total assets	US$ in thousands	3,436,840	2,851,890	1,688,210	1,381,020	845,639
Total asset turnover		0.46	0.42	0.51	0.49	0.63

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,576,710K ÷ $3,436,840K
= 0.46

The total asset turnover ratio of Axon Enterprise Inc has fluctuated over the past five years. In 2023, the company recorded a total asset turnover of 0.45, indicating that for every dollar of assets, the company generated $0.45 in revenue. This figure represents a slight increase from the previous year's ratio of 0.42.

In 2021, Axon saw a higher total asset turnover of 0.51, which suggests that the company was more efficient in utilizing its assets to generate revenue compared to the following years. The ratio decreased to 0.49 in 2020 and further dipped to 0.63 in 2019.

Overall, the trend in total asset turnover indicates some fluctuations, with a peak in 2019 followed by fluctuating lower ratios in the subsequent years. This may suggest variations in how effectively the company is using its assets to generate sales revenue over time. Further analysis would be needed to understand the factors driving these changes and assess the company's overall asset management efficiency.