Merit Medical Systems Inc (MMSI)

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	1,241,203	1,213,421	1,188,414	1,165,681	1,144,662	1,131,114	1,111,439	1,096,568	1,069,451	1,049,645	1,025,702	962,507	955,554	955,472	953,411	990,405	985,453	960,780	940,439	909,348
Total assets	US$ in thousands	2,325,240	1,808,500	1,837,570	1,684,110	1,663,970	1,632,740	1,631,520	1,629,740	1,648,290	1,643,170	1,642,390	1,651,720	1,664,400	1,670,510	1,715,870	1,749,270	1,757,320	1,761,700	1,736,270	1,689,790
Total asset turnover		0.53	0.67	0.65	0.69	0.69	0.69	0.68	0.67	0.65	0.64	0.62	0.58	0.57	0.57	0.56	0.57	0.56	0.55	0.54	0.54

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,241,203K ÷ $2,325,240K
= 0.53

The total asset turnover ratio for Merit Medical Systems, Inc. fluctuated over the past eight quarters, ranging from 0.54 to 0.70. This ratio measures the efficiency with which the company generates revenue from its total assets. A higher total asset turnover ratio indicates that the company is effectively utilizing its assets to generate sales.

In Q1 2023, the total asset turnover was 0.70, suggesting that the company generated $0.70 in sales for every $1 of total assets. This was the highest ratio in the given period, indicating strong asset utilization for revenue generation.

Conversely, the lowest total asset turnover ratio was recorded in Q4 2023 at 0.54, suggesting a decline in the efficiency of asset utilization for generating sales compared to the previous quarters.

Overall, the company's total asset turnover ratio has shown some variation, but it has mostly remained around 0.68, indicating a moderate level of asset turnover efficiency. It is essential for Merit Medical Systems, Inc. to continue monitoring and improving its asset utilization to enhance its overall financial performance.