Benchmark Electronics Inc (BHE)

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	2,838,976	2,898,266	2,950,146	2,944,943	2,886,331	2,768,741	2,569,048	2,385,681	2,255,319	2,143,515	2,097,584	2,043,888	2,053,131	2,040,325	2,069,603	2,180,239	2,268,095	2,416,701	2,502,160	2,561,149
Total assets	US$ in thousands	2,274,760	2,333,140	2,307,460	2,278,650	2,227,330	2,276,510	2,166,780	2,002,560	1,903,880	1,840,370	1,818,790	1,760,750	1,744,240	1,734,510	1,758,040	1,823,380	1,759,870	1,758,750	1,827,880	1,868,930
Total asset turnover		1.25	1.24	1.28	1.29	1.30	1.22	1.19	1.19	1.18	1.16	1.15	1.16	1.18	1.18	1.18	1.20	1.29	1.37	1.37	1.37

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,838,976K ÷ $2,274,760K
= 1.25

Benchmark Electronics Inc.'s total asset turnover has exhibited some fluctuations over the past eight quarters. The ratio ranged from a low of 1.19 in Q2 and Q1 of 2022 to a high of 1.30 in Q4 of 2022. Generally, the company has maintained a healthy total asset turnover ratio, indicating that it generated $1.25-$1.30 in revenue for every dollar of assets during the most recent quarters. This suggests that Benchmark Electronics Inc. efficiently utilizes its assets to generate sales revenue. However, the fluctuations in the ratio over time may warrant further investigation into the company's asset management practices and operational efficiency.