Harmony Biosciences Holdings (HRMY)

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
Revenue (ttm)	US$ in thousands	548,499	507,747	476,532	451,378	419,060	383,158	319,980	290,957	268,890	236,824	233,336
Total assets	US$ in thousands	811,448	777,766	760,183	715,092	673,870	643,464	505,034	464,005	433,443	391,092	359,695	337,252	427,074	320,073
Total asset turnover		0.68	0.65	0.63	0.63	0.62	0.60	0.63	0.63	0.62	0.61	0.65

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $548,499K ÷ $811,448K
= 0.68

The total asset turnover ratio for Harmony Biosciences Holdings Inc has been relatively stable over the past eight quarters, ranging from 0.62 to 0.72. This ratio indicates the company's ability to generate sales revenue from its total assets. A higher ratio typically suggests that the company is efficient in utilizing its assets to generate sales.

In this case, the total asset turnover ratio has averaged around 0.69 over the periods analyzed. This demonstrates that, on average, the company generates $0.69 in sales revenue for every $1 of total assets it holds.

The slight fluctuations in the ratio over time could be attributed to changes in the company's sales performance, asset utilization efficiency, or asset base. Investors and analysts may closely monitor this ratio to assess the company's operational efficiency and asset management.