Impinj Inc (PI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 302,856 | 254,853 | 189,633 | 135,412 | 152,262 |
| Total assets | US$ in thousands | 359,409 | 349,737 | 315,537 | 207,616 | 215,046 |
| Total asset turnover | 0.84 | 0.73 | 0.60 | 0.65 | 0.71 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $302,856K ÷ $359,409K
= 0.84
The total asset turnover ratio for Impinj Inc has shown fluctuations over the past five years. In 2023, the ratio stood at 0.84, indicating that the company generated $0.84 in sales for every $1 of total assets. This represents an improvement from the previous year when the ratio was 0.73.
The upward trend in total asset turnover from 2022 to 2023 suggests that Impinj Inc has become more efficient in utilizing its assets to generate revenue. However, it is worth noting that the ratio was at its lowest point in 2021 at 0.60, indicating a decrease in asset efficiency during that period.
Overall, the total asset turnover ratio for Impinj Inc has shown some variability in recent years, but the latest data point in 2023 suggests an improvement in asset utilization efficiency. This ratio is an important metric for evaluating how effectively the company is using its assets to generate sales. Impinj Inc may need to continue monitoring and enhancing its asset management strategies to maintain or improve its operational efficiency in the future.
Peer comparison
Dec 31, 2023