Iridium Communications Inc (IRDM)
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 | 790,723 | 765,535 | 769,021 | 754,775 | 721,034 | 694,988 | 672,226 | 644,376 | 614,500 | 562,328 | 564,734 | 567,318 | 583,439 | 575,806 | 569,119 | 572,046 | 560,444 | 553,735 | 545,714 | 537,545 |
| Total assets | US$ in thousands | 2,661,780 | 2,705,710 | 2,780,470 | 2,871,650 | 2,954,010 | 3,062,590 | 3,076,780 | 3,077,130 | 3,180,800 | 3,205,970 | 3,201,090 | 3,266,560 | 3,360,950 | 3,365,520 | 3,373,850 | 3,391,070 | 3,623,560 | 3,827,010 | 3,917,060 | 4,026,310 |
| Total asset turnover | 0.30 | 0.28 | 0.28 | 0.26 | 0.24 | 0.23 | 0.22 | 0.21 | 0.19 | 0.18 | 0.18 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.15 | 0.14 | 0.14 | 0.13 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $790,723K ÷ $2,661,780K
= 0.30
Iridium Communications Inc's total asset turnover has been consistent over the past eight quarters, ranging from 0.21 to 0.30. The total asset turnover ratio measures the efficiency of the company in generating sales revenue from its total assets. The higher the ratio, the better the company is utilizing its assets to generate revenue.
Iridium Communications Inc's total asset turnover ratio has shown a slight improvement over the quarters, indicating that the company is becoming more efficient in using its assets to generate sales. However, the ratio still remains relatively low, suggesting that there may be room for further improvement in asset utilization efficiency. It would be advisable for Iridium Communications Inc to focus on strategies to enhance asset management and increase revenue generation from its total assets in order to improve overall financial performance.
Peer comparison
Dec 31, 2023