Qualcomm Incorporated (QCOM)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 35,820,000 | 44,200,000 | 33,566,000 | 23,531,000 | 24,273,000 |
| Total assets | US$ in thousands | 51,040,000 | 49,014,000 | 41,240,000 | 35,594,000 | 32,957,000 |
| Total asset turnover | 0.70 | 0.90 | 0.81 | 0.66 | 0.74 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $35,820,000K ÷ $51,040,000K
= 0.70
Total Asset Turnover measures a company's efficiency in generating sales revenue from its total assets. A higher ratio indicates better asset utilization. Looking at Qualcomm Incorporated's Total Asset Turnover over the past five years, we observe fluctuations in the ratio. In Sep 2023, the ratio stands at 0.70, indicating that the company generated $0.70 in sales for every $1 of assets. This represents a decrease from the previous year's ratio of 0.90. The decrease in the ratio could suggest a decrease in sales relative to total assets, which may indicate inefficiency in asset utilization. However, it is important to consider industry benchmarks and other financial metrics to gain a more comprehensive understanding of Qualcomm's performance.
Peer comparison
Sep 30, 2023