Perrigo Company PLC (PRGO)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,655,600	4,451,600	4,138,700	5,063,300	4,837,400
Total assets	US$ in thousands	10,809,100	11,017,300	10,425,700	11,488,400	11,301,400
Total asset turnover		0.43	0.40	0.40	0.44	0.43

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,655,600K ÷ $10,809,100K
= 0.43

Total asset turnover measures how efficiently a company is utilizing its assets to generate revenue. Perrigo Company plc's total asset turnover has fluctuated over the past five years, ranging from 0.40 to 0.44. The ratio indicates that for each dollar of total assets, the company generated revenue of between $0.40 and $0.44.

In 2023, the total asset turnover was 0.43, showing a slight improvement compared to the previous year. This suggests that Perrigo improved its asset utilization efficiency to generate more revenue relative to its asset base. Overall, the company's total asset turnover has been relatively consistent over the years, indicating stable asset management practices. Further analysis in conjunction with other financial metrics would provide a more comprehensive view of Perrigo's operational efficiency and financial performance.