NeoGenomics Inc (NEO)

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	601,638	580,487	554,336	529,041	507,523	493,983	486,680	484,258	482,622	482,400	486,504	451,757	442,254	425,319	404,547	419,283	408,830	378,437	342,861	308,894
Total assets	US$ in thousands	1,681,230	1,678,240	1,695,110	1,709,170	1,740,030	1,755,580	1,792,110	1,829,550	1,869,780	1,906,390	1,896,310	1,494,410	988,331	959,428	945,485	732,247	709,506	711,155	696,667	533,343
Total asset turnover		0.36	0.35	0.33	0.31	0.29	0.28	0.27	0.26	0.26	0.25	0.26	0.30	0.45	0.44	0.43	0.57	0.58	0.53	0.49	0.58

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $601,638K ÷ $1,681,230K
= 0.36

Neogenomics Inc.'s total asset turnover has shown a steady upward trend over the past year, increasing from 0.27 in Q1 2022 to 0.35 in Q4 2023. This indicates that the company is generating more revenue relative to its total assets. The improvement in total asset turnover suggests that Neogenomics Inc. is becoming more efficient in utilizing its assets to generate sales. This trend is generally positive as it indicates that the company is better at generating revenue from its assets, which can lead to increased profitability and shareholder value in the long term.