First Solar Inc (FSLR)

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	3,318,599	3,162,439	2,990,282	2,800,564	2,619,318	2,524,247	2,478,818	2,487,043	2,923,377	2,625,290	2,969,351	2,982,582	2,711,332	3,501,480	3,120,721	3,063,266	3,063,120	2,354,981	2,484,395	2,208,757
Total assets	US$ in thousands	10,365,100	9,582,640	8,997,170	8,564,600	8,251,230	7,492,820	7,419,370	7,399,220	7,413,750	7,268,630	7,248,470	7,108,910	7,108,930	6,985,220	7,072,620	6,949,140	7,515,690	7,054,690	7,137,810	7,256,930
Total asset turnover		0.32	0.33	0.33	0.33	0.32	0.34	0.33	0.34	0.39	0.36	0.41	0.42	0.38	0.50	0.44	0.44	0.41	0.33	0.35	0.30

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,318,599K ÷ $10,365,100K
= 0.32

The total asset turnover ratio for First Solar Inc has shown consistency over the past eight quarters, ranging between 0.32 and 0.34. This indicates that the company generated revenues equal to approximately 32% to 34% of its total assets in each quarter. A total asset turnover ratio of around 0.33 suggests that First Solar Inc efficiently utilizes its assets to generate sales revenue. However, it is important to closely monitor any significant shifts in this ratio over time to assess potential changes in the company's efficiency in asset utilization and revenue generation.