IDEXX Laboratories Inc (IDXX)

Total asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	3,897,500	3,660,950	3,367,320	3,215,360	2,706,660
Total assets	US$ in thousands	3,293,440	3,259,920	2,746,760	2,437,200	2,294,560
Total asset turnover		1.18	1.12	1.23	1.32	1.18

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $3,897,500K ÷ $3,293,440K
= 1.18

The total asset turnover ratio measures how efficiently a company is generating revenue from its total assets. IDEXX Laboratories Inc's total asset turnover has shown some fluctuations over the past five years.

In December 2020, the total asset turnover was 1.18, indicating that the company generated $1.18 in revenue for every dollar of total assets. This ratio increased to 1.32 by the end of December 2021, suggesting an improvement in asset utilization efficiency.

However, in December 2022, the ratio decreased to 1.23, and further dropped to 1.12 by the end of December 2023. This decline may indicate a decrease in revenue generated from the company's total assets, which could be a cause for concern.

By December 31, 2024, the total asset turnover increased again to 1.18, which was the same level as in 2020. Overall, while there have been fluctuations in IDEXX Laboratories Inc's total asset turnover, maintaining a level around 1.2 indicates a relatively stable efficiency in utilizing its assets to generate revenue. It would be important for the company to closely monitor this ratio to ensure optimal asset management in the future.