Quidel Corporation (QDEL)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	2,780,900	2,815,700	2,832,600	2,861,400	2,997,800	3,121,700	3,161,500	3,109,800	3,265,960	3,036,327	2,762,263	2,325,473	1,698,551	1,870,887	1,837,209	1,862,353	1,661,668	1,004,643	655,077	561,575
Total assets	US$ in thousands	6,448,600	6,801,100	6,689,200	6,703,300	8,563,100	8,539,100	8,550,300	8,787,100	8,855,800	8,655,500	8,822,400	3,093,120	2,430,370	2,106,380	1,807,650	2,097,370	1,871,160	1,249,360	972,931	966,766
Total asset turnover		0.43	0.41	0.42	0.43	0.35	0.37	0.37	0.35	0.37	0.35	0.31	0.75	0.70	0.89	1.02	0.89	0.89	0.80	0.67	0.58

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,780,900K ÷ $6,448,600K
= 0.43

Quidel Corporation's total asset turnover ratio has fluctuated over the years, indicating varying levels of efficiency in utilizing its assets to generate sales. The ratio shows an upward trend from March 31, 2020, to June 30, 2021, reaching its peak at 1.02, suggesting improving asset utilization during this period. However, there was a decline in the ratio from June 30, 2021, to June 30, 2022, hitting a low of 0.31. This significant drop may indicate challenges in efficiently generating revenues from the company's assets during this period.

Subsequently, the total asset turnover ratio started to recover and remained relatively stable between September 30, 2022, and December 31, 2024, ranging from 0.31 to 0.43. The consistency in this range suggests a steady level of asset utilization efficiency in generating sales.

Overall, Quidel Corporation's total asset turnover ratio has shown mixed performance over the years, with periods of both improvement and decline. It is crucial for the company to focus on optimizing asset utilization to maintain a healthy balance between asset efficiency and revenue generation.