Biomarin Pharmaceutical Inc (BMRN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,374,190 | 2,068,670 | 1,832,750 | 1,823,140 | 1,680,280 |
| Total assets | US$ in thousands | 6,841,600 | 6,375,070 | 6,004,770 | 5,848,020 | 4,690,040 |
| Total asset turnover | 0.35 | 0.32 | 0.31 | 0.31 | 0.36 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,374,190K ÷ $6,841,600K
= 0.35
The total asset turnover ratio for Biomarin Pharmaceutical Inc has exhibited some variation over the past five years. It increased from 0.31 in 2020 to 0.36 in 2019, indicating that the company generated $0.36 in revenue for every dollar of assets in 2019. However, the ratio decreased to 0.31 in 2021 and 2022 before slightly increasing to 0.32 in 2022 and 0.35 in 2023.
A total asset turnover ratio of less than 1 may indicate inefficiency in asset utilization, suggesting that the company is not generating sufficient revenue relative to its asset base. Biomarin Pharmaceutical Inc's total asset turnover appears to be relatively low, suggesting that the company should focus on improving its efficiency in utilizing its assets to generate revenue. It would be beneficial for the company to assess its operational and strategic approach to enhance asset productivity and overall performance.
Peer comparison
Dec 31, 2023