Medpace Holdings Inc (MEDP)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,883,940 | 1,519,300 | 1,145,160 | 926,439 | 860,388 |
| Total assets | US$ in thousands | 1,656,830 | 1,352,500 | 1,659,940 | 1,390,680 | 1,143,070 |
| Total asset turnover | 1.14 | 1.12 | 0.69 | 0.67 | 0.75 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,883,940K ÷ $1,656,830K
= 1.14
The total asset turnover ratio for Medpace Holdings Inc has shown an improving trend over the past five years, increasing from 0.75 in 2019 to 1.14 in 2023. This indicates that the company is generating more revenue for each dollar of assets it holds. A higher total asset turnover ratio suggests that the company is efficient in utilizing its assets to generate sales. This improvement could be attributed to better operational efficiencies, effective management of assets, or increased sales volume. Overall, the increasing trend in total asset turnover indicates a positive performance in utilizing the company's assets to generate revenue.
Peer comparison
Dec 31, 2023