Cirrus Logic Inc (CRUS)

Total asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	1,788,060	1,896,530	1,781,390	1,369,220	1,280,980
Total assets	US$ in thousands	2,231,580	2,063,970	2,123,400	1,830,610	1,592,680
Total asset turnover		0.80	0.92	0.84	0.75	0.80

March 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,788,060K ÷ $2,231,580K
= 0.80

The total asset turnover ratio of Cirrus Logic Inc has fluctuated over the past five years. In the most recent fiscal year ending on March 31, 2024, the company's total asset turnover was 0.80. This indicates that for every dollar of total assets, Cirrus Logic Inc generated $0.80 in revenue.

Comparing this to previous years, we observe that the total asset turnover ratio was 0.92 in 2023, 0.84 in 2022, 0.75 in 2021, and 0.80 in 2020. The ratio has shown variability over this period, reflecting changes in the company's efficiency in generating sales from its total assets.

A downward trend in total assets turnover ratio, as seen from 2021 to 2023, may suggest potential inefficiencies or challenges in effectively utilizing the company's assets to generate revenue. However, the uptick in 2024 indicates a partial recovery or improvement in asset utilization efficiency during that year.

Overall, the management of Cirrus Logic Inc should continue monitoring and analyzing the total asset turnover ratio to ensure efficient utilization of assets in generating sales revenue, ultimately aiming for sustainable growth and profitability.