Neurocrine Biosciences Inc (NBIX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,883,200 | 1,411,600 | 1,107,700 | 994,700 | 756,124 |
| Total assets | US$ in thousands | 3,251,400 | 2,368,700 | 2,072,500 | 1,734,700 | 1,306,000 |
| Total asset turnover | 0.58 | 0.60 | 0.53 | 0.57 | 0.58 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,883,200K ÷ $3,251,400K
= 0.58
Neurocrine Biosciences, Inc.'s total asset turnover has exhibited fluctuations over the past five years, ranging between 0.55 and 0.63. The ratio measures the efficiency with which the company utilizes its assets to generate revenue, indicating that for each dollar of assets, Neurocrine Biosciences generated $0.58 of revenue in 2023.
The declining trend in total asset turnover from 0.63 in 2022 to 0.58 in 2023 suggests a decrease in the company's ability to generate sales from its total assets. This trend may indicate inefficiencies in managing and utilizing its assets effectively to drive revenue growth.
Comparing Neurocrine Biosciences' total asset turnover to industry benchmarks or competitors' ratios could provide further insights into the company's performance and relative efficiency in asset utilization. It is essential for the company to closely monitor this ratio and implement strategies to improve asset management to enhance revenue generation and overall financial performance.
Peer comparison
Dec 31, 2023