Cytek Biosciences Inc (CTKB)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	176,629	201,210	197,710	200,786	193,014	183,117	175,594	166,060	164,036	154,594	148,493	138,742	127,950	119,675	110,395	99,123	92,839
Total assets	US$ in thousands	499,500	491,226	483,725	492,067	497,669	519,430	525,054	524,575	519,476	499,295	492,817	485,879	463,700	454,320	230,279	224,264	219,979
Total asset turnover		0.35	0.41	0.41	0.41	0.39	0.35	0.33	0.32	0.32	0.31	0.30	0.29	0.28	0.26	0.48	0.44	0.42

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $176,629K ÷ $499,500K
= 0.35

Total asset turnover is a measure of a company's efficiency in generating sales revenue from its assets. Cytek Biosciences Inc's total asset turnover has shown a gradual increase from 0.42 in December 2020 to 0.35 in December 2024. The ratio fluctuated between 0.26 and 0.48 during this period, indicating some variability in the company's ability to utilize its assets effectively to generate revenue.

Overall, the trend suggests that Cytek Biosciences Inc has been improving its efficiency in generating sales relative to its total assets over the years. However, the ratio experienced a decline in the last quarter of 2024 compared to the earlier quarters of the same year. Further analysis is needed to understand the underlying reasons for this fluctuation and to assess the company's overall performance in utilizing its assets efficiently.