Universal Display (OLED)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 576,429 | 616,619 | 553,525 | 428,867 | 405,177 |
| Total assets | US$ in thousands | 1,668,960 | 1,532,820 | 1,466,920 | 1,269,230 | 1,120,160 |
| Total asset turnover | 0.35 | 0.40 | 0.38 | 0.34 | 0.36 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $576,429K ÷ $1,668,960K
= 0.35
The total asset turnover ratio of Universal Display Corp. has shown some fluctuation over the past five years. In 2023, the ratio decreased to 0.35 from 0.40 in 2022, indicating that the company generated $0.35 in revenue for every $1 of assets it had. This decline suggests that the company may have been less efficient in utilizing its assets to generate sales in 2023 compared to the previous year.
Looking at the trend over the five-year period, we can see that the total asset turnover ratio has generally hovered around the range of 0.34 to 0.40. This suggests that Universal Display Corp. has maintained a relatively stable level of asset efficiency in generating sales over the years, with some minor fluctuations.
While the total asset turnover ratio is just one measure of efficiency, it provides insight into how effectively the company is using its assets to generate revenue. Further analysis and comparison with industry benchmarks would be beneficial to gain a more comprehensive understanding of Universal Display Corp.'s operational efficiency and performance over time.
Peer comparison
Dec 31, 2023