Myriad Genetics Inc (MYGN)

Total asset turnover

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Revenue (ttm)	US$ in thousands	817,300	794,900	766,400	745,400	731,500	696,200	691,900	675,200	820,600	831,200	839,900	846,300	666,200	590,100	564,400	586,600	627,900	750,000	801,700	822,500
Total assets	US$ in thousands	1,081,300	1,085,100	1,110,500	1,146,500	1,149,100	1,187,200	1,169,300	1,198,700	1,212,000	1,210,200	1,255,400	1,320,700	1,335,900	1,360,300	1,336,900	1,444,500	1,404,600	1,446,700	1,578,300	1,591,200
Total asset turnover		0.76	0.73	0.69	0.65	0.64	0.59	0.59	0.56	0.68	0.69	0.67	0.64	0.50	0.43	0.42	0.41	0.45	0.52	0.51	0.52

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $817,300K ÷ $1,081,300K
= 0.76

Myriad Genetics Inc's total asset turnover has shown fluctuations over the past few quarters. The ratio indicates how efficiently the company is generating revenue from its assets.

From September 2019 to September 2020, the total asset turnover ratio increased gradually from 0.45 to 0.68 before declining slightly in the following quarters. However, the overall trend shows an improvement in asset utilization efficiency, reaching a high of 0.76 in September 2024.

The increase in total asset turnover suggests that Myriad Genetics Inc has been more successful in generating sales from its assets, which is positive for the company's financial performance. It indicates that management is effectively utilizing its assets to generate revenue.

The fluctuations in the ratio may be influenced by various factors such as changes in revenue, asset efficiency, or changes in the composition of the asset base. Investors and analysts should continue to monitor the total asset turnover ratio along with other financial metrics to assess the company's operational efficiency and overall financial health.