LeMaitre Vascular Inc (LMAT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 387,188 | 321,568 | 306,513 | 257,563 | 234,262 |
| Total assets | US$ in thousands | 346,778 | 310,476 | 292,802 | 252,810 | 188,341 |
| Total asset turnover | 1.12 | 1.04 | 1.05 | 1.02 | 1.24 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $387,188K ÷ $346,778K
= 1.12
Total asset turnover measures the efficiency of Lemaitre Vascular Inc in generating revenue relative to its total assets. A higher total asset turnover indicates that the company is generating more revenue per dollar of assets.
Over the past five years, Lemaitre Vascular's total asset turnover has ranged from 0.51 to 0.62. The ratio has shown some fluctuations but generally remained within a relatively narrow range.
In 2023, the total asset turnover improved to 0.56 from 0.52 in 2022, indicating that the company generated more revenue per dollar of assets compared to the previous year. This could be a positive sign of improved efficiency in asset utilization.
However, Lemaitre Vascular's total asset turnover is on the lower side, indicating that the company may not be as efficient in generating revenue from its assets compared to some of its peers. This could be an area of focus for the company to potentially improve operational efficiency and profitability.
Overall, while Lemaitre Vascular Inc's total asset turnover has shown some variability, monitoring this ratio over time can provide insights into the company's operational efficiency and effectiveness in utilizing its assets to drive revenue growth.
Peer comparison
Dec 31, 2023