First Solar Inc (FSLR)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,318,600	2,619,320	2,923,380	2,711,330	3,063,120
Total assets	US$ in thousands	10,365,100	8,251,230	7,413,750	7,108,930	7,515,690
Total asset turnover		0.32	0.32	0.39	0.38	0.41

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $3,318,600K ÷ $10,365,100K
= 0.32

First Solar Inc's total asset turnover ratio has shown a declining trend over the past five years. The ratio stood at 0.41 in 2019, decreasing to 0.38 in 2020, further dropping to 0.39 in 2021, and remaining stable at 0.32 in both 2022 and 2023. This indicates that the company generated $0.32 - $0.41 in revenue for every dollar of assets held during these years. The decreasing trend suggests a potential decline in the efficiency of utilizing its assets to generate revenue. Further analysis of the company's operational efficiency and asset management may be necessary to address this trend and improve overall performance.