IPG Photonics Corporation (IPGP)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,287,440 | 1,429,550 | 1,460,860 | 1,200,720 | 1,314,580 |
| Total assets | US$ in thousands | 2,698,900 | 2,743,280 | 3,170,540 | 2,935,700 | 2,730,440 |
| Total asset turnover | 0.48 | 0.52 | 0.46 | 0.41 | 0.48 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,287,440K ÷ $2,698,900K
= 0.48
The total asset turnover ratio for IPG Photonics Corp has fluctuated over the past five years. In 2023, the ratio decreased to 0.48 from 0.52 in 2022, indicating that the company generated $0.48 in sales for every $1 of total assets. This decline may suggest that IPG Photonics Corp was less efficient in utilizing its assets to generate revenue in 2023 compared to the previous year. However, it is still above the ratios in 2021 and 2020, which were 0.46 and 0.41, respectively.
The ratio in 2019 was the same as in 2023, at 0.48, suggesting a similar level of asset efficiency in those two years. Overall, the trend in total asset turnover for IPG Photonics Corp shows some variability but generally indicates that the company has been able to generate a reasonable level of sales relative to its total assets in recent years.
Peer comparison
Dec 31, 2023