Hologic Inc (HOLX)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,030,400 | 4,862,800 | 5,632,300 | 3,776,400 | 3,367,300 |
| Total assets | US$ in thousands | 9,139,300 | 9,071,200 | 8,919,900 | 7,195,800 | 6,442,100 |
| Total asset turnover | 0.44 | 0.54 | 0.63 | 0.52 | 0.52 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,030,400K ÷ $9,139,300K
= 0.44
The total asset turnover ratio for Hologic, Inc. has exhibited a declining trend over the past five years. In 2023, the ratio stood at 0.44, down from 0.54 in 2022 and 0.63 in 2021. This suggests that the company generated $0.44 in sales for every $1 of assets in 2023, showcasing a decrease in efficiency compared to the previous years. The declining trend indicates that the company may be facing challenges in effectively utilizing its assets to generate sales, which could warrant further investigation into the company's operational and asset management strategies.
Peer comparison
Sep 30, 2023
Company name
Symbol
Total asset turnover
Hologic Inc
HOLX
0.44
GE HealthCare Technologies Inc.
GEHC
0.58