Doximity Inc (DOCS)

Total asset turnover

		Mar 31, 2025	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
Revenue (ttm)	US$ in thousands	570,399	550,168	516,849	493,629	475,422	468,331	448,309	436,882	419,052	401,739	384,353	361,518	343,548	316,582	277,415	243,178	206,897	176,564	150,281
Total assets	US$ in thousands	1,264,310	1,172,160	1,118,520	1,073,460	1,079,370	1,000,650	1,025,570	1,153,510	1,136,890	1,067,090	1,028,340	1,050,930	991,357	932,172	869,255	830,182	251,719	206,378	—
Total asset turnover		0.45	0.47	0.46	0.46	0.44	0.47	0.44	0.38	0.37	0.38	0.37	0.34	0.35	0.34	0.32	0.29	0.82	0.86	—

March 31, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $570,399K ÷ $1,264,310K
= 0.45

Total asset turnover is a financial ratio that measures a company's ability to generate revenue from its assets. It is calculated by dividing a company's net revenue by its average total assets.

In the case of Doximity Inc, we see that the total asset turnover has varied over the periods provided in the data. The ratio was not available for September 30, 2020. From December 2020 to June 2022, the total asset turnover ranged from 0.29 to 0.38, indicating that Doximity was generating between $0.29 and $0.38 in revenue for every dollar of assets it had during those periods.

Subsequently, from September 2022 to March 2025, the total asset turnover continued to fluctuate within a relatively narrow range of 0.34 to 0.47. This suggests that Doximity was able to maintain a consistent level of revenue generation relative to its asset base over these periods.

Overall, the trend in Doximity's total asset turnover shows some variability but generally indicates that the company has been efficient in utilizing its assets to generate revenue, with a slight improvement in performance towards the end of the period. However, further analysis and comparison with industry peers would be necessary to fully assess the company's asset utilization efficiency.