NeoGenomics Inc (NEO)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 660,566 | 591,643 | 509,728 | 484,329 | 444,448 |
| Total assets | US$ in thousands | 1,638,040 | 1,681,230 | 1,740,030 | 1,869,780 | 988,331 |
| Total asset turnover | 0.40 | 0.35 | 0.29 | 0.26 | 0.45 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $660,566K ÷ $1,638,040K
= 0.40
The total asset turnover ratio for NeoGenomics Inc has shown a fluctuating trend from 0.45 in December 2020 to 0.26 in December 2021, and then gradually increasing to 0.40 by December 2024. This ratio indicates that for every dollar of total assets held by the company, it generated $0.26 to $0.45 in sales revenue, with an improvement in efficiency over time. NeoGenomics Inc managed to increase its asset utilization and generate more sales relative to its total assets invested, which is a positive sign of operational efficiency and effective utilization of assets to generate revenue.