IPG Photonics Corporation (IPGP)

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	1,287,439	1,322,085	1,369,690	1,406,742	1,429,547	1,460,475	1,490,619	1,485,254	1,460,860	1,433,023	1,372,314	1,297,067	1,200,724	1,170,721	1,181,418	1,248,776	1,314,581	1,338,004	1,365,212	1,415,056
Total assets	US$ in thousands	2,698,900	2,672,860	2,696,420	2,671,160	2,743,280	2,962,520	3,048,770	3,098,470	3,170,540	3,143,910	3,086,510	2,982,950	2,935,700	2,794,930	2,758,740	2,680,130	2,730,440	2,730,900	2,737,420	2,628,740
Total asset turnover		0.48	0.49	0.51	0.53	0.52	0.49	0.49	0.48	0.46	0.46	0.44	0.43	0.41	0.42	0.43	0.47	0.48	0.49	0.50	0.54

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,287,439K ÷ $2,698,900K
= 0.48

Based on the data provided for IPG Photonics Corp's total asset turnover over the past eight quarters, we observe a relatively stable trend with minor fluctuations. The total asset turnover ratio measures the efficiency of the company in generating sales revenue from its total assets.

The total asset turnover ratio ranged from a low of 0.48 in Q4 2023 to a high of 0.53 in Q1 2023, indicating that, on average, IPG Photonics Corp generated $0.48 to $0.53 of sales for every dollar of total assets during these periods.

Overall, the company's total asset turnover has been relatively consistent, hovering around the 0.49 to 0.53 range over the observed quarters. This stability suggests that IPG Photonics Corp has maintained a relatively efficient utilization of its assets to generate sales revenue during the analyzed period. Further analysis may be needed to understand the factors contributing to the fluctuations in the ratio observed between quarters.