Boston Scientific Corp (BSX)

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	13,974,000	10,508,000	10,348,000	9,999,000	9,228,000	12,104,000	11,689,000	11,502,000	11,625,000	11,168,000	10,855,000	9,774,000	9,553,000	9,751,000	9,790,000	10,420,000	10,349,000	10,035,000	9,758,000	9,649,000
Total assets	US$ in thousands	35,136,000	34,043,000	33,601,000	32,892,000	32,469,000	31,947,000	32,189,000	32,337,000	32,229,000	31,877,000	31,168,000	30,900,000	30,777,000	30,845,000	30,823,000	30,113,000	30,565,000	26,756,000	24,309,000	23,802,000
Total asset turnover		0.40	0.31	0.31	0.30	0.28	0.38	0.36	0.36	0.36	0.35	0.35	0.32	0.31	0.32	0.32	0.35	0.34	0.38	0.40	0.41

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $13,974,000K ÷ $35,136,000K
= 0.40

Total asset turnover measures a company's ability to generate sales revenue from its total assets. In the case of Boston Scientific Corp., the total asset turnover has been relatively stable over the past eight quarters, ranging from 0.38 to 0.41. This indicates that the company is generating approximately $0.40 in sales for every $1 of total assets it owns.

A total asset turnover ratio of 0.40 implies that Boston Scientific Corp. is efficient in utilizing its assets to generate revenue. A higher ratio would indicate that the company is more effective in using its assets to drive sales. Conversely, a lower ratio could suggest that the company may be underutilizing its assets or facing challenges in generating sales.

Overall, the consistent total asset turnover for Boston Scientific Corp. suggests that the company is maintaining a steady level of asset efficiency in generating revenue. However, further analysis in conjunction with other financial ratios and industry benchmarks would provide a more comprehensive assessment of the company's financial performance and asset management effectiveness.