ICU Medical Inc (ICUI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,259,130 | 2,280,000 | 1,316,310 | 1,271,000 | 1,266,210 |
| Total assets | US$ in thousands | 4,378,440 | 4,515,640 | 1,880,740 | 1,763,690 | 1,692,380 |
| Total asset turnover | 0.52 | 0.50 | 0.70 | 0.72 | 0.75 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,259,130K ÷ $4,378,440K
= 0.52
The total asset turnover of ICU Medical, Inc. reflects the efficiency with which the company generates sales revenue in relation to its total assets.
Over the past five years, the total asset turnover ratio has shown a declining trend, decreasing from 0.75 in 2019 to 0.52 in 2023. This downward trend indicates that the company's ability to utilize its assets to generate sales has been weakening over the years.
With a total asset turnover ratio of 0.52 in 2023, it suggests that for every dollar of total assets, ICU Medical, Inc. generated $0.52 in sales revenue. This may indicate inefficiencies in asset utilization or a need to improve the company's sales strategies.
It is crucial for the company to closely monitor and address the declining trend in total asset turnover to improve operational efficiency and profitability in the future. Further analysis and comparison with industry benchmarks may provide additional insights into ICU Medical's performance in utilizing its assets to drive sales.
Peer comparison
Dec 31, 2023