Omnicell Inc (OMCL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,187,990 | 1,342,310 | 1,144,190 | 925,486 | 945,018 |
| Total assets | US$ in thousands | 2,226,880 | 2,210,760 | 2,142,500 | 1,824,500 | 1,240,810 |
| Total asset turnover | 0.53 | 0.61 | 0.53 | 0.51 | 0.76 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,187,990K ÷ $2,226,880K
= 0.53
Omnicell, Inc.'s total asset turnover has experienced fluctuations over the past five years. In 2023, the total asset turnover ratio decreased to 0.52 from 0.59 in 2022. This decline suggests that the company generated $0.52 in revenue for every dollar of assets held during the year, indicating a lower efficiency in asset utilization compared to the previous year.
Comparing 2023 to 2021 and 2020, the total asset turnover has remained relatively consistent at around 0.53 and 0.49, respectively. This stability indicates that Omnicell has maintained a similar level of efficiency in generating sales from its assets during these years.
However, a notable drop was observed in 2019, where the total asset turnover ratio was significantly higher at 0.72. This suggests that in 2019, Omnicell was more efficient in utilizing its assets to generate revenue compared to the subsequent years.
Overall, the trend in total asset turnover for Omnicell, Inc. indicates some variability in asset utilization efficiency, with fluctuations observed over the five-year period. Further analysis and comparison with industry benchmarks may provide additional insights into the company's operational performance and asset management strategies.
Peer comparison
Dec 31, 2023