Diodes Incorporated (DIOD)

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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	1,311,120	1,294,521	1,349,089	1,496,470	1,661,739	1,835,252	1,951,878	1,985,698	2,000,580	1,984,539	1,934,688	1,874,164	1,805,162	1,675,361	1,513,398	1,361,619	1,229,215	1,180,002	1,194,217	1,227,554
Total assets	US$ in thousands	2,386,280	2,389,380	2,361,060	2,356,170	2,367,660	2,340,220	2,341,070	2,285,560	2,288,310	2,362,560	2,285,040	2,165,460	2,194,500	2,041,910	1,992,970	1,990,340	1,979,460	2,032,650	1,937,160	1,620,270
Total asset turnover		0.55	0.54	0.57	0.64	0.70	0.78	0.83	0.87	0.87	0.84	0.85	0.87	0.82	0.82	0.76	0.68	0.62	0.58	0.62	0.76

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,311,120K ÷ $2,386,280K
= 0.55

The total asset turnover ratio of Diodes Incorporated has shown fluctuations over the past few years. The ratio stood at 0.76 as of March 31, 2020, indicating that the company generated $0.76 in sales for every dollar invested in total assets. However, the ratio decreased to 0.62 by June 30, 2020, and further dropped to 0.58 by September 30, 2020. This suggests that the company may have been less efficient in utilizing its assets to generate sales during that period.

Subsequently, there was a slight improvement as the ratio rose to 0.62 by December 31, 2020, and further increased to 0.68 by March 31, 2021. The trend continued with the total asset turnover reaching 0.76 by June 30, 2021, and 0.82 by September 30, 2021, showing an improvement in asset utilization.

The ratio remained relatively stable at 0.82 by December 31, 2021, and March 31, 2022, before experiencing a slight increase to 0.87 by June 30, 2022. However, there was a slight decline in the ratio to 0.85 by September 30, 2022, and 0.84 by December 31, 2022. The total asset turnover then returned to 0.87 by March 31, 2023, and maintained this level until June 30, 2023.

Subsequently, there was a decline in the total asset turnover ratio to 0.83 by September 30, 2023, followed by a further decrease to 0.78 by December 31, 2023. The declining trend continued, with the ratio dropping to 0.70 by March 31, 2024, and further decreasing to 0.64 by June 30, 2024. The trend continued with ratios of 0.57 and 0.54 by September 30, 2024, and December 31, 2024, respectively. Finally, the ratio slightly rebounded to 0.55 by the end of March 31, 2024.

Overall, the total asset turnover ratio of Diodes Incorporated has shown variability, indicating fluctuations in the company's ability to efficiently generate sales from its total assets over the analyzed period. The company may need to focus on improving asset efficiency to sustain and enhance its operational performance.