Proto Labs Inc (PRLB)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 499,414 | 489,514 | 487,522 | 434,393 | 458,728 |
| Total assets | US$ in thousands | 772,353 | 802,168 | 928,582 | 744,204 | 673,667 |
| Total asset turnover | 0.65 | 0.61 | 0.53 | 0.58 | 0.68 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $499,414K ÷ $772,353K
= 0.65
The total asset turnover ratio for Proto Labs Inc has shown some variability over the past five years. The ratio ranged from a low of 0.53 in 2021 to a high of 0.68 in 2019.
A total asset turnover ratio of 0.65 in 2023 indicates that, for every dollar of total assets, the company generated $0.65 of revenue. This suggests that the company is efficiently utilizing its assets to generate sales.
The fluctuation in the total asset turnover ratio could be due to changes in the company's operating efficiency, sales volume, or asset base. A higher ratio implies that the company is effectively using its assets to generate revenue, while a lower ratio may indicate inefficiencies in asset utilization.
Overall, the trend in total asset turnover for Proto Labs Inc shows some variability, and further analysis is required to understand the underlying factors driving these fluctuations and their impact on the company's financial performance.
Peer comparison
Dec 31, 2023