Cognex Corporation (CGNX)

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	824,931	871,996	891,741	923,419	1,004,258	1,006,206	1,082,805	1,078,739	1,034,795	1,014,415	983,583	884,497	810,787	756,941	685,541	715,295	724,470	747,987	1,030,020	1,042,097
Total assets	US$ in thousands	2,017,810	1,989,900	1,998,110	1,974,070	1,958,140	1,900,240	1,943,080	1,934,120	2,003,660	2,048,800	2,024,920	1,908,960	1,800,700	2,060,520	1,934,860	1,885,080	1,885,940	1,390,450	1,349,920	1,353,770
Total asset turnover		0.41	0.44	0.45	0.47	0.51	0.53	0.56	0.56	0.52	0.50	0.49	0.46	0.45	0.37	0.35	0.38	0.38	0.54	0.76	0.77

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $824,931K ÷ $2,017,810K
= 0.41

Cognex Corp.'s total asset turnover has exhibited a downward trend over the past eight quarters, declining from 0.56 in Q1 2022 to 0.42 in Q4 2023. This indicates that the company is generating less revenue relative to its total assets in recent quarters compared to the previous periods. A lower total asset turnover may suggest inefficiency in asset utilization or underperformance in sales generation. It could be beneficial for the company to assess and improve its operational effectiveness and asset management strategies to enhance its revenue generation efficiency in the future.