Harmonic Inc (HLIT)
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 | 601,654 | 597,493 | 625,363 | 626,252 | 617,168 | 611,864 | 581,045 | 535,811 | 500,824 | 470,444 | 438,894 | 398,174 | 364,172 | 361,941 | 376,886 | 388,697 | 388,955 | 380,432 | 371,146 | 385,534 |
| Total assets | US$ in thousands | 768,206 | 673,811 | 690,352 | 703,815 | 710,018 | 697,871 | 698,459 | 700,445 | 693,686 | 643,866 | 651,240 | 609,709 | 591,523 | 559,422 | 557,521 | 576,275 | 587,327 | 568,206 | 526,721 | 514,177 |
| Total asset turnover | 0.78 | 0.89 | 0.91 | 0.89 | 0.87 | 0.88 | 0.83 | 0.76 | 0.72 | 0.73 | 0.67 | 0.65 | 0.62 | 0.65 | 0.68 | 0.67 | 0.66 | 0.67 | 0.70 | 0.75 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $601,654K ÷ $768,206K
= 0.78
The total asset turnover ratio for Harmonic, Inc. fluctuated over the past eight quarters. The ratio ranged from a low of 0.78 in Q1 2022 to a high of 0.92 in Q2 2023, with an average of approximately 0.88. This indicates that, on average, the company generated $0.88 in revenue for every dollar of assets over the period analyzed.
A higher total asset turnover ratio generally suggests that the company is efficient in generating revenue from its assets. In this case, although there were fluctuations, the ratio remained relatively stable around the average of 0.88, indicating moderate efficiency in asset utilization.
It is important to assess the trend of the total asset turnover ratio over time and compare it with industry benchmarks to gain a better understanding of the company's performance in utilizing its assets to generate sales.
Peer comparison
Dec 31, 2023