Dynavax Technologies Corporation (DVAX)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	235,104	722,936	435,169	42,046	20,843
Total assets	US$ in thousands	997,096	985,850	1,039,250	353,272	279,068
Total asset turnover		0.24	0.73	0.42	0.12	0.07

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $235,104K ÷ $997,096K
= 0.24

Total asset turnover measures how efficiently a company generates revenue from its total assets. In the case of Dynavax Technologies Corp., there has been significant variability in total asset turnover over the past five years. In 2023, the total asset turnover was notably low at 0.23, indicating that the company generated $0.23 of revenue for every $1 of assets. This represents a decrease from the previous year where the turnover was 0.73.

The significant decline in total asset turnover from 2022 to 2023 suggests that Dynavax Technologies Corp. may be facing challenges in effectively utilizing its assets to generate revenue. The sharp drop in the ratio could be a cause for concern and may require further investigation into the company's operational efficiency and asset management strategies.

Furthermore, when comparing the 2023 total asset turnover to 2021 and earlier years, it is evident that the company has historically struggled to achieve a high level of asset turnover. The average turnover ratio over this period remains relatively low at 0.296, indicating that Dynavax Technologies Corp. has not been able to efficiently leverage its assets to drive revenue consistently.

Overall, the declining trend in total asset turnover, particularly in 2023, highlights potential inefficiencies in asset utilization at Dynavax Technologies Corp. Investors and stakeholders may want to closely monitor the company's efforts to improve operational productivity and maximize revenue generation from its asset base.