Illumina Inc (ILMN)

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	4,372,000	4,390,000	4,429,000	4,493,000	4,504,000	4,465,000	4,461,000	4,447,000	4,583,000	4,699,000	4,692,000	4,656,000	4,526,000	4,280,000	3,966,000	3,473,000	3,239,000	3,238,000	3,351,000	3,556,000
Total assets	US$ in thousands	6,303,000	6,014,000	6,081,000	10,040,000	10,111,000	10,122,000	11,774,000	11,811,000	12,252,000	11,256,000	15,448,000	15,274,000	15,217,000	15,063,000	8,675,000	8,755,000	7,585,000	7,404,000	7,248,000	7,261,000
Total asset turnover		0.69	0.73	0.73	0.45	0.45	0.44	0.38	0.38	0.37	0.42	0.30	0.30	0.30	0.28	0.46	0.40	0.43	0.44	0.46	0.49

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,372,000K ÷ $6,303,000K
= 0.69

The total asset turnover ratio for Illumina Inc has fluctuated over the past few years. It decreased from 0.49 as of March 31, 2020, to a low of 0.28 as of September 30, 2021, indicating that the company was generating less in sales relative to its total assets during that period.

Following the low point in September 2021, the total asset turnover ratio began to gradually improve, reaching 0.73 as of June 30, 2024. This increase suggests that Illumina Inc became more efficient in utilizing its assets to generate sales revenue during this time frame.

Overall, the trend in total asset turnover indicates varying levels of efficiency in how Illumina Inc was able to generate sales relative to the size of its asset base. An increasing ratio typically implies improved asset utilization, while a decreasing ratio may suggest declining efficiency or changes in the company's business model.