CTS Corporation (CTS)

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	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	550,422	568,009	585,368	585,168	586,869	577,119	547,590	532,193	512,925	503,412	494,807	449,419	424,067	416,089	417,963	454,450	469,000	474,033	477,241	474,578
Total assets	US$ in thousands	741,167	753,962	755,906	747,007	748,487	734,679	729,634	684,746	664,462	651,973	647,298	634,665	626,049	655,853	663,389	685,165	643,354	648,001	580,701	574,008
Total asset turnover		0.74	0.75	0.77	0.78	0.78	0.79	0.75	0.78	0.77	0.77	0.76	0.71	0.68	0.63	0.63	0.66	0.73	0.73	0.82	0.83

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $550,422K ÷ $741,167K
= 0.74

The total asset turnover ratio of CTS Corp. has been relatively stable over the past eight quarters, ranging from 0.74 to 0.79. This indicates that, on average, the company generates around $0.74 to $0.79 in revenue for every $1 of total assets it has.

A consistent total asset turnover ratio suggests that CTS Corp. is efficiently utilizing its assets to generate sales. However, there may be room for improvement as the ratio has not shown significant growth or improvement over the period analyzed.

It's worth noting that a higher total asset turnover ratio is generally preferred as it indicates that the company is generating more revenue from its assets, reflecting better efficiency. Conversely, a lower ratio may suggest that the company is not effectively using its assets to generate sales.

Overall, while CTS Corp.'s total asset turnover ratio is stable, there may be opportunities for the company to increase its efficiency in asset utilization to boost revenue generation in the future.