Incyte Corporation (INCY)

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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	3,693,101	3,609,260	3,513,520	3,470,962	3,395,993	3,330,147	3,320,472	3,114,784	2,986,267	2,912,923	2,720,579	2,702,913	2,666,702	2,456,582	2,387,520	2,229,409	2,158,759	2,107,772	2,005,874	1,997,458
Total assets	US$ in thousands	6,782,110	6,388,240	6,208,260	5,797,620	5,840,980	5,510,210	5,319,040	5,054,220	4,933,350	4,198,830	3,904,620	3,661,440	3,560,920	3,307,430	3,212,320	2,752,420	3,426,750	3,214,820	2,947,630	2,754,160
Total asset turnover		0.54	0.56	0.57	0.60	0.58	0.60	0.62	0.62	0.61	0.69	0.70	0.74	0.75	0.74	0.74	0.81	0.63	0.66	0.68	0.73

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,693,101K ÷ $6,782,110K
= 0.54

Total asset turnover is a financial ratio that measures a company's ability to generate sales from its assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate revenue.

In the case of Incyte Corp., the trend of total asset turnover over the past eight quarters has been relatively stable, ranging from 0.54 to 0.62. This indicates that the company has been consistent in generating sales revenue relative to its total assets during this period.

The declining trend from Q1 2023 to Q4 2023, decreasing from 0.60 to 0.54, may suggest a slight decrease in the company's efficiency in utilizing its assets to generate sales. However, it is important to assess this trend in conjunction with other financial metrics and qualitative factors to gain a more comprehensive understanding of Incyte Corp.'s overall performance and operational efficiency.