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 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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.
Peer comparison
Dec 31, 2023