Qualcomm Incorporated (QCOM)

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	36,292,000	35,820,000	38,584,000	41,069,000	42,958,000	44,200,000	42,141,000	39,265,000	36,036,000	33,566,000	32,576,000	29,409,000	26,690,000	23,532,000	20,000,000	24,742,000	24,508,000	24,273,000	25,237,000	21,179,000
Total assets	US$ in thousands	52,135,000	51,040,000	49,002,000	48,362,000	50,014,000	49,014,000	47,020,000	44,302,000	42,820,000	41,240,000	38,769,000	37,168,000	37,479,000	35,594,000	32,328,000	31,938,000	33,111,000	32,957,000	34,133,000	34,023,000
Total asset turnover		0.70	0.70	0.79	0.85	0.86	0.90	0.90	0.89	0.84	0.81	0.84	0.79	0.71	0.66	0.62	0.77	0.74	0.74	0.74	0.62

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $36,292,000K ÷ $52,135,000K
= 0.70

Qualcomm Incorporated's total asset turnover has shown some fluctuations over the reported periods. The ratio indicates how efficiently the company is using its assets to generate sales revenue. A total asset turnover of less than 1 implies that the company is not generating enough sales relative to its total assets.

Looking at the trend, total asset turnover has been relatively stable around 0.70 to 0.90 over the past few quarters. There was a slight dip in the ratio in the most recent period, which could suggest a decrease in sales relative to total assets.

It's important for Qualcomm to monitor this ratio closely, as a decreasing total asset turnover could indicate inefficiencies in asset utilization or potential issues with sales generation. Further analysis is needed to understand the underlying factors contributing to the fluctuations in total asset turnover and to address any operational inefficiencies that may be impacting the company's performance.