Iridium Communications Inc (IRDM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 790,723 | 721,034 | 614,500 | 583,439 | 560,444 |
| Total assets | US$ in thousands | 2,661,780 | 2,954,010 | 3,180,800 | 3,360,950 | 3,623,560 |
| Total asset turnover | 0.30 | 0.24 | 0.19 | 0.17 | 0.15 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $790,723K ÷ $2,661,780K
= 0.30
The total asset turnover of Iridium Communications Inc has demonstrated a positive trend over the past five years, indicating the company's ability to generate sales relative to its total assets has been improving. The ratio has increased from 0.15 in 2019 to 0.30 in 2023, reflecting a significant enhancement in the efficiency of asset utilization. This implies that the company is generating more revenue for every dollar of assets invested, which is a positive sign of operational efficiency and effectiveness in utilizing its assets to drive sales. The continuous improvement in total asset turnover suggests that Iridium Communications Inc has been successful in leveraging its assets to generate revenue and enhance overall performance over the years.
Peer comparison
Dec 31, 2023