Penumbra Inc (PEN)

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 1,058,522 995,059 937,791 884,636 847,133 829,928 806,367 782,281 747,590 710,477 671,436 592,287 560,412 538,777 527,203 556,295 547,405 522,935 495,239 470,676
Total assets US$ in thousands 1,556,300 1,468,380 1,432,530 1,395,300 1,370,890 1,321,600 1,327,900 1,301,570 1,244,250 973,241 480,750 840,824 822,983 810,303 780,200 664,240 665,901 614,170 585,109 568,789
Total asset turnover 0.68 0.68 0.65 0.63 0.62 0.63 0.61 0.60 0.60 0.73 1.40 0.70 0.68 0.66 0.68 0.84 0.82 0.85 0.85 0.83

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,058,522K ÷ $1,556,300K
= 0.68

The total asset turnover ratio of Penumbra Inc has fluctuated within a relatively narrow range over the past eight quarters, ranging from 0.60 to 0.68. This ratio indicates how efficiently the company generates sales revenue from its total assets. A higher total asset turnover ratio suggests that the company is more efficient in utilizing its assets to generate sales.

Based on the trend observed, there seems to be a gradual improvement in the total asset turnover ratio of Penumbra Inc, with a general upward movement from 0.60 in Q1 2022 to 0.68 in Q4 2023. This indicates that the company has been able to effectively increase its sales relative to its total assets over this period, which may be a positive sign of improving operational efficiency.

Overall, Penumbra Inc's total asset turnover ratio demonstrates a stable performance with a slight positive trend, suggesting that the company is managing its assets efficiently to generate revenue. However, it is important to continue monitoring this ratio to ensure sustained performance and effective utilization of assets in driving future sales growth.