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.