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.
Peer comparison
Dec 31, 2023