Fulgent Genetics Inc (FLGT)

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 289,213 286,412 307,380 364,868 618,968 802,935 925,148 953,423 992,584 1,035,891 909,739 773,388 421,712 135,121 43,752 34,911 32,528 29,814 25,092 22,068
Total assets US$ in thousands 1,235,330 1,358,400 1,354,580 1,376,770 1,386,050 1,405,780 1,461,660 1,465,590 1,278,720 1,204,670 1,049,860 999,083 700,461 247,311 95,915 89,325 88,756 61,145 56,436 55,652
Total asset turnover 0.23 0.21 0.23 0.27 0.45 0.57 0.63 0.65 0.78 0.86 0.87 0.77 0.60 0.55 0.46 0.39 0.37 0.49 0.44 0.40

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $289,213K ÷ $1,235,330K
= 0.23

Total asset turnover is a key financial ratio that measures a company's ability to generate revenue in relation to its total assets. In the case of Fulgent Genetics Inc, the total asset turnover ratio has fluctuated over the past eight quarters.

In Q4 2023, Fulgent Genetics Inc had a total asset turnover of 0.23, indicating that the company generated $0.23 in revenue for every dollar of total assets it had during that quarter. This ratio is lower compared to the previous quarter's figure of 0.21, suggesting a slight improvement in efficiency in utilizing its assets to generate revenue.

Looking back further, the total asset turnover ratio has shown a declining trend since Q1 2023, where it was at its highest level of 0.27. The decreasing trend continued from Q1 2023 through Q4 2023, which may indicate a potential inefficiency in managing and utilizing the company's total assets to generate revenue.

In comparison to previous years, the total asset turnover ratio was significantly higher in Q4 2022 at 0.45, indicating a more effective utilization of assets to generate revenue. However, the ratio has been on a downward trajectory since then.

Overall, the fluctuation in Fulgent Genetics Inc's total asset turnover ratio over the past eight quarters suggests varying levels of efficiency in generating revenue relative to its total asset base. It would be beneficial for the company to closely monitor and potentially improve its asset management strategies to enhance overall financial performance.