IQVIA Holdings Inc (IQV)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 14,308,000 | 14,004,000 | 13,470,000 | 10,935,000 | 10,616,000 |
| Total assets | US$ in thousands | 26,681,000 | 25,337,000 | 24,689,000 | 24,564,000 | 23,251,000 |
| Total asset turnover | 0.54 | 0.55 | 0.55 | 0.45 | 0.46 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $14,308,000K ÷ $26,681,000K
= 0.54
Total asset turnover is a financial ratio that reflects the efficiency of a company in generating revenue from its total assets. For IQVIA Holdings Inc, the total asset turnover has shown relatively stable performance in recent years, ranging between 0.46 to 0.57. A total asset turnover of 0.56 in 2023 suggests that for every dollar of assets, the company generated 56 cents in revenue during the year. The consistent range of total asset turnover over the years indicates that IQVIA is efficiently utilizing its assets to generate revenue. However, it is essential to monitor any significant changes in this ratio to assess the company's ability to continue efficiently utilizing its assets.
Peer comparison
Dec 31, 2023