Masimo Corporation (MASI)

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	2,047,100	2,130,300	2,204,300	2,322,800	2,062,041	1,774,419	1,519,833	1,244,351	1,239,153	1,206,629	1,177,327	1,173,162	1,143,744	1,096,200	1,047,099	975,798	937,837	913,459	895,031	877,000
Total assets	US$ in thousands	3,041,500	2,995,900	3,011,200	3,115,500	3,210,600	3,056,400	2,961,100	1,908,800	1,887,000	1,766,780	1,681,690	1,597,810	1,712,550	1,713,140	1,635,630	1,474,540	1,396,130	1,314,210	1,229,850	1,179,380
Total asset turnover		0.67	0.71	0.73	0.75	0.64	0.58	0.51	0.65	0.66	0.68	0.70	0.73	0.67	0.64	0.64	0.66	0.67	0.70	0.73	0.74

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,047,100K ÷ $3,041,500K
= 0.67

Total asset turnover is a key financial ratio that measures a company's efficiency in generating sales revenue from its total assets. Masimo Corporation's total asset turnover has exhibited some fluctuation over the past several quarters. The ratio ranged from a low of 0.51 in June 2022 to a high of 0.75 in March 2023.

During the most recent quarter, the total asset turnover was 0.67, indicating that for every dollar of total assets, Masimo generated $0.67 in sales. This suggests that the company is efficiently utilizing its assets to generate revenue.

Overall, Masimo Corporation's total asset turnover has generally trended upwards from 2019 to 2023, with some variability in between. This improvement in the ratio reflects the company's ability to efficiently use its assets to drive sales growth.