Penumbra Inc (PEN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,058,520 | 847,133 | 747,590 | 560,412 | 547,405 |
| Total assets | US$ in thousands | 1,556,300 | 1,370,890 | 1,244,250 | 822,983 | 665,901 |
| Total asset turnover | 0.68 | 0.62 | 0.60 | 0.68 | 0.82 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,058,520K ÷ $1,556,300K
= 0.68
Penumbra Inc's total asset turnover has shown variability over the past five years. The ratio indicates how efficiently the company is using its assets to generate revenue. A higher total asset turnover ratio signifies that the company is effectively utilizing its assets to generate sales.
In 2019, Penumbra had a total asset turnover of 0.82, indicating that the company generated $0.82 in sales for every dollar of assets. However, this ratio declined to 0.68 in both 2020 and 2023, suggesting a decrease in the company's efficiency in utilizing its assets to generate revenue.
Interestingly, in 2021 and 2022, the total asset turnover ratio remained relatively stable at 0.60 and 0.62, respectively. This consistency could indicate improved asset utilization or stable revenue generation during those years.
Overall, Penumbra Inc's total asset turnover has fluctuated over the past five years, reflecting varying levels of efficiency in utilizing its assets to generate sales. Further analysis of the company's operations and industry dynamics may provide insights into the factors influencing these fluctuations.
Peer comparison
Dec 31, 2023