Digi International Inc (DGII)

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	441,632	444,849	438,424	429,705	413,274	388,225	361,593	337,155	319,743	308,632	302,695	293,954	290,100	279,271	271,062	261,890	254,207	254,203	254,361	255,467
Total assets	US$ in thousands	828,662	835,531	840,060	847,748	854,610	853,895	863,639	869,530	866,230	619,531	613,051	607,503	528,788	528,682	526,869	554,752	560,904	398,698	385,246	383,535
Total asset turnover		0.53	0.53	0.52	0.51	0.48	0.45	0.42	0.39	0.37	0.50	0.49	0.48	0.55	0.53	0.51	0.47	0.45	0.64	0.66	0.67

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $441,632K ÷ $828,662K
= 0.53

The total asset turnover ratio for Digi International, Inc. has been gradually increasing over the past several quarters, reflecting the company's efficiency in generating sales revenue relative to its total assets. The ratio stood at 0.39 in Q2 2022 and has since risen consistently, reaching 0.53 in both Q1 2024 and Q4 2023. This improvement suggests that the company has been utilizing its assets more effectively to drive sales growth. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets employed, which can be a positive sign of operational efficiency and effective asset management. Overall, the trend in total asset turnover for Digi International, Inc. demonstrates a positive trajectory in leveraging its assets to generate sales.