Universal Display (OLED)
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 | 576,429 | 587,141 | 606,620 | 596,616 | 616,619 | 593,834 | 576,896 | 569,995 | 553,525 | 548,821 | 522,282 | 450,590 | 428,867 | 389,053 | 369,489 | 429,689 | 405,177 | 373,591 | 353,626 | 291,607 |
| Total assets | US$ in thousands | 1,668,960 | 1,622,920 | 1,540,860 | 1,535,710 | 1,532,820 | 1,530,320 | 1,499,440 | 1,487,230 | 1,466,920 | 1,428,590 | 1,350,720 | 1,310,500 | 1,269,230 | 1,224,960 | 1,161,060 | 1,136,380 | 1,120,160 | 1,062,550 | 1,011,080 | 968,190 |
| Total asset turnover | 0.35 | 0.36 | 0.39 | 0.39 | 0.40 | 0.39 | 0.38 | 0.38 | 0.38 | 0.38 | 0.39 | 0.34 | 0.34 | 0.32 | 0.32 | 0.38 | 0.36 | 0.35 | 0.35 | 0.30 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $576,429K ÷ $1,668,960K
= 0.35
The total asset turnover ratio for Universal Display Corp. has been relatively stable over the past eight quarters, ranging between 0.35 and 0.40. This indicates that the company is generating revenue efficiently from its total assets, as the ratio measures the ability of the company to generate sales from its investment in assets. A higher ratio indicates that the company is able to generate more revenue per dollar of assets, which is generally seen as positive.
Although the ratio has not shown a significant increasing trend, the consistent levels suggest that Universal Display Corp. is effectively utilizing its assets to generate revenue. It is important to continue monitoring this ratio in conjunction with other financial metrics to assess the overall financial performance and efficiency of the company.
Peer comparison
Dec 31, 2023