Axon Enterprise Inc. (AXON)
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 | 1,569,959 | 1,468,095 | 1,366,248 | 1,277,256 | 1,187,386 | 1,070,477 | 990,712 | 923,894 | 862,707 | 871,660 | 806,113 | 728,577 | 680,248 | 626,197 | 590,674 | 561,872 | 530,795 | 473,735 | 447,652 | 434,421 |
| Total assets | US$ in thousands | 3,436,840 | 3,254,180 | 3,077,400 | 3,007,950 | 2,851,890 | 2,010,430 | 1,932,020 | 1,772,450 | 1,688,210 | 1,645,390 | 1,526,890 | 1,404,860 | 1,381,020 | 1,279,150 | 1,232,910 | 877,451 | 845,639 | 792,304 | 746,370 | 739,195 |
| Total asset turnover | 0.46 | 0.45 | 0.44 | 0.42 | 0.42 | 0.53 | 0.51 | 0.52 | 0.51 | 0.53 | 0.53 | 0.52 | 0.49 | 0.49 | 0.48 | 0.64 | 0.63 | 0.60 | 0.60 | 0.59 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,569,959K ÷ $3,436,840K
= 0.46
Total asset turnover is a key financial ratio that indicates how efficiently a company generates revenue from its assets. A higher total asset turnover ratio implies that the company is using its assets more effectively to generate sales.
Based on the data provided for Axon Enterprise Inc, we observe fluctuations in the total asset turnover ratio over the quarters. The trend shows a slight decline from Q1 2022 to Q3 2022, followed by a significant drop in Q4 2022. However, from Q1 2023 to Q4 2023, there appears to be a gradual increase in the total asset turnover ratio.
The average total asset turnover for the eight quarters is approximately 0.47, indicating that, on average, Axon Enterprise Inc generates $0.47 in revenue for every dollar of assets it holds.
It is essential to monitor the total asset turnover ratio over time to assess changes in the company's efficiency in utilizing its assets to generate sales. Further analysis and comparison with industry benchmarks can provide insights into Axon Enterprise Inc's operational performance and competitiveness.
Peer comparison
Dec 31, 2023