Enphase Energy Inc (ENPH)

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	2,290,786	2,712,868	2,796,499	2,615,577	2,330,853	2,018,920	1,735,726	1,521,587	1,382,049	1,234,169	1,061,153	870,634	774,425	719,618	721,172	729,728	624,333	506,590	404,535	346,337
Total assets	US$ in thousands	3,383,010	3,553,940	3,465,880	3,380,850	3,084,280	2,697,840	2,437,110	2,263,280	2,079,260	2,230,160	2,100,660	2,194,200	1,200,100	1,092,340	997,927	1,030,790	713,223	523,669	481,518	319,252
Total asset turnover		0.68	0.76	0.81	0.77	0.76	0.75	0.71	0.67	0.66	0.55	0.51	0.40	0.65	0.66	0.72	0.71	0.88	0.97	0.84	1.08

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,290,786K ÷ $3,383,010K
= 0.68

Enphase Energy Inc's total asset turnover has shown some fluctuations over the past eight quarters, ranging from 0.67 to 0.81. The total asset turnover ratio measures the company's efficiency in generating revenues from its investments in assets. A higher ratio indicates that the company is utilizing its assets effectively to generate sales.

In the most recent quarter, Q4 2023, the total asset turnover ratio was 0.68, which indicates that for every dollar of assets invested, the company generated $0.68 in sales. This was a decrease from the previous quarter, Q3 2023, where the ratio was 0.76. The decline in total asset turnover may suggest a decrease in sales relative to the assets employed during the period.

However, it is worth noting that Enphase's total asset turnover has generally been above 0.7 in recent quarters, suggesting overall efficient asset utilization. Investors and analysts may want to further investigate the factors contributing to the fluctuation in the total asset turnover ratio to assess the company's operational efficiency and overall financial performance.