Cirrus Logic Inc (CRUS)

Total asset turnover

		Mar 31, 2024	Dec 31, 2023	Sep 23, 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
Revenue (ttm)	US$ in thousands	1,788,131	1,789,079	1,760,694	1,820,205	1,896,542	2,014,981	1,972,748	1,898,050	1,781,915	1,584,295	1,521,700	1,403,112	1,368,432	1,354,186	1,243,059	1,284,646	1,280,324	1,241,474	1,191,101	1,168,494
Total assets	US$ in thousands	2,231,580	2,217,110	2,104,450	2,056,590	2,063,970	2,165,890	2,164,070	2,105,900	2,123,400	2,068,120	2,226,160	1,814,010	1,830,610	1,825,630	1,699,860	1,644,040	1,592,680	1,647,540	1,583,630	1,470,120
Total asset turnover		0.80	0.81	0.84	0.89	0.92	0.93	0.91	0.90	0.84	0.77	0.68	0.77	0.75	0.74	0.73	0.78	0.80	0.75	0.75	0.79

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,788,131K ÷ $2,231,580K
= 0.80

Total asset turnover is a key financial ratio that measures how efficiently a company is utilizing its assets to generate sales. It is calculated by dividing the company's net sales by its average total assets.

For Cirrus Logic Inc, the total asset turnover has fluctuated over the past several quarters, ranging from 0.68 to 0.93. A higher turnover ratio indicates that the company is generating more sales for each dollar of assets it has, reflecting efficient asset utilization. On the other hand, a lower ratio may suggest that the company is not effectively utilizing its assets to generate revenue.

Analyzing the trend of Cirrus Logic Inc's total asset turnover, we can see that it generally decreased from the first quarter of 2021 to the first quarter of 2022, reaching its lowest point of 0.68 in the third quarter of 2021. However, the ratio then started to improve and peaked at 0.93 in the fourth quarter of 2022 before fluctuating around the range of 0.80 to 0.84 in recent quarters.

Overall, the trend in Cirrus Logic Inc's total asset turnover indicates variability in the efficiency of asset utilization over time. Investors and analysts may want to further investigate the reasons behind these fluctuations to assess the company's operational performance and future growth prospects.