Innoviva Inc (INVA)

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	291,306	265,493	264,791	292,746	287,188	335,952	366,863	358,359	372,796	355,782	346,801	325,125	318,463	308,609	285,580	270,641	247,045	250,932	246,312	253,952
Total assets	US$ in thousands	1,243,510	1,188,100	1,118,240	1,129,770	1,231,500	1,327,710	1,137,640	1,107,470	926,395	887,239	789,150	1,088,290	999,570	922,256	879,619	788,011	724,826	675,953	642,307	590,114
Total asset turnover		0.23	0.22	0.24	0.26	0.23	0.25	0.32	0.32	0.40	0.40	0.44	0.30	0.32	0.33	0.32	0.34	0.34	0.37	0.38	0.43

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $291,306K ÷ $1,243,510K
= 0.23

The total asset turnover ratio for Innoviva Inc has shown some fluctuations over the past eight quarters. The ratio indicates how efficiently the company is utilizing its assets to generate revenue.

In Q1 2022 and Q2 2022, the total asset turnover ratio was relatively high at 0.36 and 0.35, respectively, suggesting that the company was effectively generating revenue from its assets during these periods. However, in the subsequent quarters, the ratio declined, reaching a low of 0.24 in Q3 2023.

These fluctuations may indicate changes in the company's operational efficiency or its ability to generate revenue from its assets. A declining total asset turnover ratio could suggest that the company is not efficiently utilizing its assets to generate revenue, which may warrant further investigation into the company's operational performance and asset management strategies.