Biogen Inc (BIIB)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	9,835,600	10,173,400	10,981,700	13,444,600	14,377,900
Total assets	US$ in thousands	26,844,800	24,554,100	23,877,300	24,618,900	27,234,300
Total asset turnover		0.37	0.41	0.46	0.55	0.53

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $9,835,600K ÷ $26,844,800K
= 0.37

The total asset turnover ratio for Biogen Inc has been declining over the past five years, decreasing from 0.53 in 2019 to 0.37 in 2023. This indicates that the company generated less revenue for each dollar of assets it held in 2023 compared to previous years. A lower total asset turnover ratio can signify inefficiency in asset utilization or potential challenges in generating sales from its asset base. Further analysis and comparison with industry peers may provide insights into the underlying causes of this trend and potential areas for improvement in operational performance.