Enovis Corp (ENOV)
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 | 1,686,970 | 1,644,437 | 1,618,961 | 1,609,752 | 2,233,580 | 2,223,925 | 2,803,536 | 3,374,247 | 3,230,088 | 3,659,152 | 3,499,192 | 3,133,624 | 3,070,769 | 3,131,020 | 3,171,608 | 3,459,895 | 3,327,458 | 3,424,311 | 3,101,814 | 2,754,024 |
| Total assets | US$ in thousands | 4,509,330 | 4,400,920 | 4,443,550 | 4,299,590 | 4,273,250 | 4,444,820 | 4,503,720 | 8,483,650 | 8,515,910 | 7,972,310 | 7,559,500 | 8,066,610 | 7,351,550 | 7,154,230 | 7,122,520 | 7,455,570 | 7,386,830 | 9,591,270 | 9,899,250 | 10,502,400 |
| Total asset turnover | 0.37 | 0.37 | 0.36 | 0.37 | 0.52 | 0.50 | 0.62 | 0.40 | 0.38 | 0.46 | 0.46 | 0.39 | 0.42 | 0.44 | 0.45 | 0.46 | 0.45 | 0.36 | 0.31 | 0.26 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,686,970K ÷ $4,509,330K
= 0.37
Enovis Corp's total asset turnover has fluctuated over the past eight quarters. Total asset turnover measures how efficiently a company generates revenue relative to its total assets. A higher ratio indicates more effective asset utilization.
In Q4 2023, the total asset turnover was 0.38, showing an improvement from the previous quarter at 0.23 in Q3 2023. However, it is worth noting that the total asset turnover was higher in the same period of the previous year at 0.37 in Q4 2022.
The trend over the past eight quarters indicates variability in asset utilization efficiency, with the ratio ranging from 0.22 to 0.76. The significant drop in total asset turnover from Q2 2022 (0.76) to Q3 2022 (0.47) could indicate potential issues with asset management in that period.
Enovis Corp should focus on maintaining a consistent and optimized total asset turnover to maximize revenue generation from its assets. Further analysis of operational efficiency and asset management practices may provide insights for improving total asset turnover in the future.
Peer comparison
Dec 31, 2023