Bio-Rad Laboratories Inc (BIO)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	5,298,670	5,562,940	5,851,740	5,058,790	4,601,000
Total assets	US$ in thousands	12,299,100	13,501,700	17,799,400	12,972,600	8,008,860
Total asset turnover		0.43	0.41	0.33	0.39	0.57

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $5,298,670K ÷ $12,299,100K
= 0.43

Bio-Rad Laboratories Inc.'s total asset turnover has fluctuated over the past five years, ranging from 0.16 to 0.29. The total asset turnover ratio measures the company's ability to generate sales relative to its total assets. A higher ratio indicates that the company is generating more sales per dollar of assets.

In 2023, Bio-Rad Laboratories Inc. achieved a total asset turnover of 0.22, showing a slight improvement compared to the previous year's ratio of 0.21. This suggests that the company was able to generate more sales for each dollar invested in assets in 2023.

In 2021, the total asset turnover ratio dropped to 0.16, indicating that the company's sales generation efficiency relative to its total assets was relatively lower that year. However, there was a recovery in 2022 with a ratio of 0.21.

In 2019, the company had the highest total asset turnover ratio of 0.29, indicating that Bio-Rad Laboratories Inc. was more efficient in utilizing its assets to generate sales that year.

Overall, these fluctuations in total asset turnover highlight the importance of closely monitoring the company's operational efficiency and asset utilization to ensure sustainable growth and profitability.