Exelixis Inc (EXEL)

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	1,830,208	1,774,473	1,714,291	1,663,870	1,611,062	1,638,285	1,554,970	1,520,720	1,434,970	1,253,882	1,156,551	1,030,853	987,538	957,796	998,407	979,203	967,775	956,067	909,761	855,594
Total assets	US$ in thousands	2,942,360	2,976,910	3,142,470	3,143,360	3,071,490	2,961,370	2,881,400	2,654,120	2,616,240	2,447,740	2,367,270	2,190,540	2,137,330	2,111,040	2,046,550	1,955,600	1,885,670	1,784,860	1,643,100	1,541,790
Total asset turnover		0.62	0.60	0.55	0.53	0.52	0.55	0.54	0.57	0.55	0.51	0.49	0.47	0.46	0.45	0.49	0.50	0.51	0.54	0.55	0.55

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,830,208K ÷ $2,942,360K
= 0.62

Exelixis Inc's total asset turnover ratio has been fluctuating over the past few years, ranging from 0.45 to 0.62. The ratio indicates the company's efficiency in generating sales revenue relative to its total assets. Generally, a higher total asset turnover ratio is favorable as it suggests that the company is utilizing its assets efficiently to generate revenue.

Looking at the trend, there appears to be a slight improvement in the total asset turnover ratio in recent quarters, with the ratio increasing from 0.47 in the first quarter of 2021 to 0.62 in the fourth quarter of 2023. This trend suggests that Exelixis Inc has been able to enhance its revenue generation relative to its total assets.

However, it's important to note that a total asset turnover ratio should be analyzed in conjunction with other financial indicators to get a comprehensive view of the company's financial performance and efficiency in asset utilization. Further analysis of the company's financial statements and industry benchmarks would provide deeper insights into Exelixis Inc's overall operational efficiency and performance.

Overall, the improvement in Exelixis Inc's total asset turnover ratio in recent quarters signals a positive trend in the company's ability to generate sales from its assets, but a more holistic analysis is needed to fully assess its financial health.