Perficient Inc (PRFT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 906,541 | 905,062 | 732,031 | 607,596 | 565,527 |
| Total assets | US$ in thousands | 1,064,600 | 995,888 | 882,572 | 785,761 | 640,492 |
| Total asset turnover | 0.85 | 0.91 | 0.83 | 0.77 | 0.88 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $906,541K ÷ $1,064,600K
= 0.85
Total asset turnover measures how efficiently a company generates revenue from its total assets. A higher ratio indicates better efficiency in asset utilization.
Over the past five years, Perficient Inc.'s total asset turnover has fluctuated, ranging from 0.78 in 2020 to 0.91 in 2022. In 2023, the ratio decreased to 0.85. This indicates that in 2023, the company generated $0.85 in revenue for every $1 of total assets, representing a moderate level of efficiency in asset utilization compared to the previous years.
It is important for Perficient Inc. to monitor and potentially improve its total asset turnover to ensure optimal utilization of its assets in generating revenue.
Peer comparison
Dec 31, 2023