Grid Dynamics Holdings Inc (GDYN)

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	350,571	328,358	318,342	312,647	312,910	315,417	319,159	319,152	310,482	296,443	273,215	243,556	211,280	174,869	143,268	117,960	111,283	113,158	118,248	124,506
Total assets	US$ in thousands	592,192	477,252	443,622	435,261	435,165	435,750	431,238	419,587	411,146	390,145	278,173	275,802	256,719	304,688	173,133	160,297	167,135	157,801	153,544	154,202
Total asset turnover		0.59	0.69	0.72	0.72	0.72	0.72	0.74	0.76	0.76	0.76	0.98	0.88	0.82	0.57	0.83	0.74	0.67	0.72	0.77	0.81

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $350,571K ÷ $592,192K
= 0.59

Grid Dynamics Holdings Inc has shown fluctuations in its total asset turnover ratio over the past few years. The ratio has ranged from 0.57 to 0.98, indicating how efficiently the company is generating revenue from its total assets.

In the recent quarters, there has been some variability in the total asset turnover ratio, with values of 0.76, 0.74, 0.72, and 0.72 reported for the last four quarters of 2023. This could suggest potential challenges in efficiently utilizing its assets to generate revenue during this period.

However, in the first half of 2024, the total asset turnover ratio decreased to 0.72 and further to 0.69 in the third quarter of 2024. This downtrend could indicate a decrease in sales generated per dollar of assets, pointing towards a potential inefficiency in asset management or possible decreases in sales.

The decreasing trend in the total asset turnover ratio highlights the importance for Grid Dynamics Holdings Inc to closely monitor and potentially improve its asset utilization efficiency to drive revenue growth and overall financial performance in the future.