Globus Medical (GMED)

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 1,568,476 1,226,440 1,096,949 1,068,982 1,022,843 998,366 973,939 961,307 958,102 941,526 927,903 825,809 789,042 767,264 747,381 792,998 785,368 769,639 742,660 721,505
Total assets US$ in thousands 5,086,080 5,355,880 2,212,460 2,149,620 2,076,130 1,976,510 1,914,710 1,998,690 1,957,260 1,910,580 1,830,210 1,737,890 1,679,480 1,541,740 1,465,800 1,479,360 1,532,080 1,452,180 1,390,750 1,335,920
Total asset turnover 0.31 0.23 0.50 0.50 0.49 0.51 0.51 0.48 0.49 0.49 0.51 0.48 0.47 0.50 0.51 0.54 0.51 0.53 0.53 0.54

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,568,476K ÷ $5,086,080K
= 0.31

The total asset turnover ratio for Globus Medical Inc has exhibited some fluctuations over the past eight quarters. In the most recent quarter (Q4 2023), the ratio was 0.31, indicating that the company generated $0.31 in revenue for every dollar of assets in that period. This suggests a lower efficiency in utilizing its assets to generate sales compared to the previous quarter (Q3 2023) when the ratio was 0.23.

The company's performance in terms of asset turnover was stronger in Q2 and Q1 of 2023, with ratios of 0.50 and 0.50 respectively. This implies that during these periods, Globus Medical Inc was able to generate more revenue for each dollar of assets invested, indicating better asset utilization efficiency.

Comparing to the same quarters in the previous year, there were slight fluctuations but the ratios were relatively consistent. For instance, in Q4 2022, Q3 2022, and Q2 2022, the total asset turnover ratios were 0.49, 0.51, and 0.51, respectively, reflecting stable performance in asset management.

Overall, the trend in total asset turnover for Globus Medical Inc shows some variability but indicates that the company has generally been efficient in utilizing its assets to generate revenue over the analyzed period. However, the recent decrease in the ratio in Q4 2023 may warrant further investigation into the company's asset utilization and sales generation strategies.