Fulgent Genetics Inc (FLGT)
Total asset turnover
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Revenue | US$ in thousands | 283,470 | 289,213 | 618,968 | 992,584 | 421,712 |
Total assets | US$ in thousands | 1,219,960 | 1,235,330 | 1,386,050 | 1,278,720 | 700,461 |
Total asset turnover | 0.23 | 0.23 | 0.45 | 0.78 | 0.60 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $283,470K ÷ $1,219,960K
= 0.23
The total asset turnover ratio for Fulgent Genetics Inc has shown fluctuations over the past five years. In December 31, 2020, the total asset turnover was 0.60, indicating that the company generated $0.60 in revenue for every dollar of assets. This ratio improved to 0.78 by December 31, 2021, showing increased efficiency in utilizing its assets to generate revenue.
However, in December 31, 2022, there was a decline in the total asset turnover to 0.45, suggesting a decrease in the company's ability to generate revenue from its assets. This trend continued in December 31, 2023, where the total asset turnover dropped further to 0.23, indicating a significant decrease in asset efficiency.
By December 31, 2024, the total asset turnover remained at 0.23, highlighting a continued challenge for Fulgent Genetics Inc in efficiently utilizing its assets to generate revenue. Overall, the declining trend in the total asset turnover ratio raises concerns about the company's asset management efficiency and its ability to optimize revenues from its asset base.
Peer comparison
Dec 31, 2024