Fulgent Genetics Inc (FLGT)

Total asset turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Revenue (ttm) US$ in thousands 283,470 277,761 290,705 287,530 289,213 286,412 307,380 364,868 618,968 802,935 925,148 953,423 992,584 1,035,891 909,739 773,388 421,712 135,121 43,752 34,911
Total assets US$ in thousands 1,219,960 1,233,760 1,232,240 1,229,880 1,273,110 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
Total asset turnover 0.23 0.23 0.24 0.23 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

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $283,470K ÷ $1,219,960K
= 0.23

Total asset turnover is a financial ratio that measures the efficiency with which a company generates revenue from its assets. For Fulgent Genetics Inc, the total asset turnover has fluctuated over the years, indicating varying levels of asset utilization.

In the past five years, the trend shows an increase in total asset turnover from 0.39 on March 31, 2020, to a peak of 0.87 on June 30, 2021. This indicates a positive trend in generating sales revenue relative to the size of the company's asset base.

However, from September 30, 2021, the total asset turnover ratio started to decrease, reaching 0.23 by September 30, 2024. This decline suggests a decrease in the efficiency of utilizing assets to generate revenue.

Overall, the total asset turnover ratio for Fulgent Genetics Inc demonstrates fluctuations over the years, implying changes in asset management efficiency and revenue generation capabilities. Further analysis of the company's operational and financial strategies may be necessary to understand the factors driving these fluctuations in asset turnover.