Balchem Corporation (BCPC)
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 | 922,439 | 926,271 | 940,590 | 946,031 | 942,358 | 922,960 | 876,562 | 842,234 | 799,023 | 766,603 | 743,874 | 714,864 | 703,644 | 689,458 | 672,913 | 661,112 | 643,705 | 640,717 | 637,165 | 639,298 |
| Total assets | US$ in thousands | 1,597,210 | 1,603,480 | 1,619,230 | 1,628,760 | 1,624,510 | 1,633,010 | 1,606,670 | 1,194,910 | 1,199,320 | 1,179,350 | 1,173,610 | 1,169,220 | 1,165,840 | 1,161,340 | 1,151,260 | 1,162,110 | 1,155,680 | 1,096,630 | 1,098,320 | 971,888 |
| Total asset turnover | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.57 | 0.55 | 0.70 | 0.67 | 0.65 | 0.63 | 0.61 | 0.60 | 0.59 | 0.58 | 0.57 | 0.56 | 0.58 | 0.58 | 0.66 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $922,439K ÷ $1,597,210K
= 0.58
Balchem Corp.'s total asset turnover has been relatively stable around the range of 0.55 to 0.58 for the Q1 2022 to Q3 2023 period. However, in Q4 2022, there was a notable increase to 0.70, indicating that the company generated $0.70 in revenue for every $1 of total assets during that quarter. The dip in Q2 2022 to 0.55 suggests that the company was less efficient in utilizing its assets to generate sales during that period. Overall, while the total asset turnover ratio has shown some fluctuations, it has generally remained within a consistent range over the past eight quarters. High asset turnover ratios are typically a sign of efficiency in asset utilization, which could be positive for Balchem Corp.'s operational performance.
Peer comparison
Dec 31, 2023