Cross Country Healthcare Inc (CCRN)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,009,910	2,788,490	1,669,790	833,527	815,040
Total assets	US$ in thousands	679,317	947,839	732,809	356,973	382,374
Total asset turnover		2.96	2.94	2.28	2.33	2.13

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,009,910K ÷ $679,317K
= 2.96

Total asset turnover is a key financial ratio that measures how efficiently a company generates revenue from its assets. Cross Country Healthcares, Inc. has shown a consistent trend of improvement in total asset turnover over the past five years. The ratio increased from 2.15 in 2019 to 2.97 in 2023.

This indicates that the company has been more effective in utilizing its assets to generate revenue. A higher total asset turnover ratio suggests that Cross Country Healthcares, Inc. is generating more sales relative to its asset base, which is a positive signal of operational efficiency and asset productivity.

The improvement in total asset turnover could be driven by various factors such as effective management of inventory, better utilization of fixed assets, and improved sales and collection processes. This trend is generally favorable as it indicates that the company's assets are being utilized more efficiently to generate revenue, which can lead to higher profitability and shareholder value in the long run.