Garmin Ltd (GRMN)

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	6,281,160	5,991,650	5,653,490	5,483,240	5,254,540	5,104,140	4,948,720	4,835,520	4,850,560	4,890,830	4,957,220	5,058,410	4,952,040	4,911,850	4,854,200	4,399,994	4,178,615	3,929,445	3,728,516	3,823,804
Total assets	US$ in thousands	9,630,530	9,347,730	8,883,320	8,633,880	8,603,570	7,965,020	7,871,800	7,726,030	7,731,170	7,627,610	7,813,700	7,703,250	7,854,430	7,571,490	7,402,720	6,999,730	7,031,370	6,550,670	6,220,040	6,053,990
Total asset turnover		0.65	0.64	0.64	0.64	0.61	0.64	0.63	0.63	0.63	0.64	0.63	0.66	0.63	0.65	0.66	0.63	0.59	0.60	0.60	0.63

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,281,160K ÷ $9,630,530K
= 0.65

The total asset turnover of Garmin Ltd has shown relatively stable performance over the past few years, ranging between 0.59 to 0.66. This ratio indicates the company's efficiency in generating sales revenue from its total assets.

The company's total asset turnover has fluctuated slightly from quarter to quarter but has generally remained within a narrow range. An average total asset turnover of around 0.63 suggests that Garmin is utilizing its assets effectively to generate sales.

While there have been slight fluctuations in the total asset turnover ratio, the overall trend indicates that Garmin is maintaining a consistent level of efficiency in generating sales revenue relative to its total assets. Further analysis over time could provide insights into any potential changes in the company's asset utilization strategy.