IDEXX Laboratories Inc (IDXX)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	3,897,506	3,844,819	3,784,803	3,724,853	3,660,953	3,587,920	3,514,054	3,430,970	3,367,324	3,339,846	3,308,606	3,274,202	3,215,360	3,135,208	3,046,576	2,858,026	2,706,655	2,591,163	2,474,677	2,457,188
Total assets	US$ in thousands	3,293,440	3,350,770	3,414,870	3,353,520	3,259,920	3,086,400	2,870,810	2,808,400	2,746,760	2,640,070	2,607,180	2,592,690	2,437,200	2,385,740	2,412,150	2,327,380	2,294,560	2,047,410	1,960,710	1,886,240
Total asset turnover		1.18	1.15	1.11	1.11	1.12	1.16	1.22	1.22	1.23	1.27	1.27	1.26	1.32	1.31	1.26	1.23	1.18	1.27	1.26	1.30

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,897,506K ÷ $3,293,440K
= 1.18

IDEXX Laboratories Inc's total asset turnover has shown some fluctuations over the years. The total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate revenue.

From March 31, 2020, to December 31, 2021, IDEXX Laboratories Inc's total asset turnover ratio experienced a general upward trend, peaking at 1.32 by the end of 2021. This suggests that the company was able to generate $1.32 in revenue for every dollar of assets it owned by the end of 2021.

However, starting from March 31, 2022, the total asset turnover ratio began to decline, reaching a low of 1.11 by June 30, 2024. A decreasing total asset turnover ratio could indicate that the company's assets are not being effectively used to generate revenue during this period.

Overall, while IDEXX Laboratories Inc's total asset turnover ratio has shown both increases and decreases over the years, it is essential for the company to closely monitor and manage its asset utilization to ensure efficiency in revenue generation.