DexCom Inc (DXCM)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,603,200	2,889,200	2,333,800	1,822,500	1,396,800
Total assets	US$ in thousands	6,264,500	5,391,700	4,933,300	4,290,500	2,395,000
Total asset turnover		0.58	0.54	0.47	0.42	0.58

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $3,603,200K ÷ $6,264,500K
= 0.58

The total asset turnover ratio for Dexcom Inc has fluctuated over the past five years, ranging from 0.45 in 2020 to 0.62 in 2019. This ratio measures the efficiency with which the company generates sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is more efficient in utilizing its assets to generate revenue.

In 2023, Dexcom's total asset turnover ratio of 0.58 suggests that the company generated $0.58 in sales revenue for every $1 of total assets. This indicates an improvement compared to the previous two years (2022 and 2021), where the company's efficiency in asset utilization was lower.

Overall, Dexcom Inc's total asset turnover ratio has shown some variability over the past five years, but the most recent data indicates an improvement in the company's ability to generate sales relative to its total asset base. It is essential for Dexcom to continue monitoring and improving this ratio to ensure optimal asset utilization efficiency.