Blackbaud Inc (BLKB)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,068,830	1,029,700	912,853	913,219	900,423
Total assets	US$ in thousands	2,912,280	2,992,700	2,971,620	2,044,730	1,992,960
Total asset turnover		0.37	0.34	0.31	0.45	0.45

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,068,830K ÷ $2,912,280K
= 0.37

Total asset turnover is a financial ratio that indicates how efficiently a company is utilizing its assets to generate revenue. In the case of Blackbaud Inc, the total asset turnover has fluctuated over the past five years. In 2023, the total asset turnover ratio was 0.38, indicating that the company generated $0.38 in revenue for every dollar of assets it holds. This represents an improvement compared to the previous years, where the ratios were 0.35 in 2022, 0.31 in 2021, and 0.45 in both 2020 and 2019.

A higher total asset turnover ratio generally signifies that a company is using its assets more efficiently to generate sales. The increase in the total asset turnover ratio in 2023 suggests that Blackbaud Inc has been able to generate more revenue relative to its asset base, which could be a positive sign of improved operational efficiency or better asset management. Nevertheless, it is important to consider other financial metrics and factors to gain a comprehensive understanding of the company's financial performance.