Integer Holdings Corp (ITGR)
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 | 1,533,846 | 1,492,296 | 1,435,589 | 1,388,858 | 1,330,022 | 1,281,365 | 1,247,921 | 1,209,740 | 1,187,800 | 1,149,039 | 1,089,308 | 1,025,616 | 1,073,442 | 1,130,120 | 1,184,617 | 1,246,095 | 1,218,156 | 1,195,553 | 1,146,376 | 1,143,613 |
| Total assets | US$ in thousands | 2,942,650 | 2,839,350 | 2,861,340 | 2,873,550 | 2,794,390 | 2,738,470 | 2,758,090 | 2,608,040 | 2,582,220 | 2,348,130 | 2,359,140 | 2,343,350 | 2,371,860 | 2,449,000 | 2,523,460 | 2,398,030 | 2,353,090 | 2,358,820 | 2,373,650 | 2,367,190 |
| Total asset turnover | 0.52 | 0.53 | 0.50 | 0.48 | 0.48 | 0.47 | 0.45 | 0.46 | 0.46 | 0.49 | 0.46 | 0.44 | 0.45 | 0.46 | 0.47 | 0.52 | 0.52 | 0.51 | 0.48 | 0.48 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,533,846K ÷ $2,942,650K
= 0.52
Based on the data provided, Integer Holdings Corp's total asset turnover has been fluctuating over the past eight quarters. The total asset turnover ratio measures the efficiency with which the company utilizes its assets to generate sales.
From Q1 2022 to Q2 2023, the total asset turnover ratio ranged from 0.46 to 0.55, indicating that the company generated between $0.46 and $0.55 in sales for every dollar of assets it had during these periods. Generally, a higher total asset turnover ratio is preferred as it suggests that the company is effectively using its assets to generate revenues.
During Q4 2022 and Q1 2023, the total asset turnover improved from 0.49 to 0.50, but then decreased in Q2 2023 to 0.52 and further to 0.54 in Q4 2023. This decrease in total asset turnover may indicate inefficiencies in asset utilization or a decline in sales relative to the level of assets deployed.
It is important for Integer Holdings Corp to closely monitor its total asset turnover ratio and identify the factors contributing to the fluctuations. Management should focus on improving operational efficiency, optimizing asset utilization, and increasing sales to enhance overall performance and profitability.
Peer comparison
Dec 31, 2023