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.