Benchmark Electronics Inc (BHE)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,838,980	2,886,330	2,255,320	2,053,130	2,268,100
Total assets	US$ in thousands	2,274,760	2,227,330	1,903,880	1,744,240	1,759,870
Total asset turnover		1.25	1.30	1.18	1.18	1.29

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,838,980K ÷ $2,274,760K
= 1.25

Benchmark Electronics Inc.'s total asset turnover has fluctuated over the past five years. The ratio indicates the company's efficiency in generating sales from its total assets. A higher total asset turnover signifies better asset utilization.

In 2023, the total asset turnover ratio was 1.25, showing a slight decrease from the previous year. This suggests that Benchmark Electronics Inc. generated $1.25 in sales for every $1 of total assets in 2023.

Comparing with the ratio in 2021 and 2020 at 1.18, there was no significant change, indicating consistent performance in utilizing assets to generate revenue.

However, in 2019, the total asset turnover was notably higher at 1.29. This may imply that the company was more efficient in utilizing its assets to generate sales in that particular year.

Overall, Benchmark Electronics Inc. has shown varying levels of efficiency in generating sales relative to its total assets over the past five years. Continued monitoring of this ratio will be necessary to assess the company's asset utilization efficiency in the future.