Cytek Biosciences Inc (CTKB)

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
Revenue (ttm)	US$ in thousands	193,014	183,117	175,594	166,060	164,036	155,086	148,985	139,234
Total assets	US$ in thousands	494,457	519,430	525,054	524,575	519,476	499,295	492,817	485,879	463,305	454,320	230,279
Total asset turnover		0.39	0.35	0.33	0.32	0.32	0.31	0.30	0.29

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $193,014K ÷ $494,457K
= 0.39

Total asset turnover measures how efficiently a company is using its assets to generate revenue. It is calculated by dividing revenue by average total assets. A higher total asset turnover indicates that the company is generating more revenue per dollar of assets.

Looking at the data provided for Cytek Biosciences Inc, we can see that the total asset turnover has been relatively stable over the past few quarters, ranging between 0.29 and 0.39. This suggests that the company has been consistently generating revenue in relation to its total assets.

A total asset turnover of 0.39 at the end of December 2023 indicates that for every dollar of assets Cytek Biosciences Inc had, it generated $0.39 of revenue during that period. This ratio can be compared to industry benchmarks to assess how efficiently Cytek Biosciences Inc is utilizing its assets compared to its peers.

Overall, the total asset turnover ratio for Cytek Biosciences Inc shows a consistent performance in generating revenue relative to its asset base. Further analysis would be needed to fully understand the factors driving this efficiency and how it compares to industry standards.