Glaukos Corp (GKOS)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	301,165	266,924	278,319	211,679	233,795
Total assets	US$ in thousands	940,414	1,002,380	1,049,700	1,005,500	818,400
Total asset turnover		0.32	0.27	0.27	0.21	0.29

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $301,165K ÷ $940,414K
= 0.32

Total asset turnover is a key financial ratio that measures a company's ability to generate revenue relative to its total assets. In the case of Glaukos Corporation, the total asset turnover has displayed fluctuating trends over the past five years.

The total asset turnover ratio for Glaukos Corporation was 0.33 as of December 31, 2023, indicating that the company generated $0.33 in revenue for every dollar of total assets. This represents an improvement from the previous year, where the ratio was 0.28.

Compared to the ratios from 2021 and 2022, the 2023 ratio reflects a more efficient utilization of assets to generate revenue. However, it is important to note that the ratio for 2020 was lower at 0.22, indicating weaker performance in asset utilization that year.

The total asset turnover ratio for 2019 was 0.29, suggesting a relatively better asset turnover performance compared to 2020 but slightly lower than the ratio observed in 2023.

Overall, the increasing trend in total asset turnover from 2020 to 2023 showcases an improvement in the company's efficiency in generating revenue from its total asset base. This indicates a more effective utilization of assets in generating sales, which can be a positive sign of operational efficiency and potential growth for Glaukos Corporation.