Perficient Inc (PRFT)

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	906,505	918,304	922,718	914,351	905,062	887,193	852,099	813,497	760,727	708,551	669,372	631,575	607,796	590,401	581,744	577,274	565,527	552,070	531,319	511,248
Total assets	US$ in thousands	1,064,600	1,028,500	1,013,690	981,855	995,888	948,737	926,943	902,821	882,572	787,631	786,195	767,510	785,761	754,294	715,454	637,658	640,492	606,704	604,790	567,936
Total asset turnover		0.85	0.89	0.91	0.93	0.91	0.94	0.92	0.90	0.86	0.90	0.85	0.82	0.77	0.78	0.81	0.91	0.88	0.91	0.88	0.90

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $906,505K ÷ $1,064,600K
= 0.85

Total asset turnover measures how efficiently a company generates revenue from its assets. In the case of Perficient Inc., the total asset turnover ratios have been fairly consistent over the past eight quarters, ranging from 0.85 to 0.94.

The decreasing trend from Q4 2022 to Q4 2023 indicates a reduction in the company's ability to generate revenue from its total assets. While the ratios are still within a relatively narrow range, it may suggest that Perficient Inc. could be experiencing challenges in optimizing its asset utilization to generate sales.

An asset turnover ratio below 1 typically indicates that the company is not effectively utilizing its assets to generate revenue. Therefore, Perficient Inc. may need to focus on improving its asset management to increase its efficiency in generating sales and enhancing overall operational performance.