Harmony Biosciences Holdings (HRMY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 548,499 | 419,060 | 255,101 | 134,691 |
| Total assets | US$ in thousands | 811,448 | 673,870 | 433,443 | 427,074 |
| Total asset turnover | 0.68 | 0.62 | 0.59 | 0.32 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $548,499K ÷ $811,448K
= 0.68
Total asset turnover measures a company's ability to generate revenue from its total assets. A higher ratio indicates better efficiency in utilizing assets to generate sales. Harmony Biosciences Holdings Inc's total asset turnover has shown some fluctuations over the past four years. In 2023, the total asset turnover ratio improved to 0.72 from 0.65 in 2022, indicating that the company generated more revenue per dollar of assets. The increase suggests increased efficiency in asset utilization or growth in sales relative to assets. However, it is essential to monitor this ratio over time to assess the company's ongoing operational efficiency.
Peer comparison
Dec 31, 2023