Qualys Inc (QLYS)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	554,458	489,723	411,172	362,963	321,607
Total assets	US$ in thousands	812,618	700,941	814,559	736,819	675,608
Total asset turnover		0.68	0.70	0.50	0.49	0.48

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $554,458K ÷ $812,618K
= 0.68

The total asset turnover ratio measures a company's efficiency in generating revenue from its total assets. A higher ratio indicates better asset utilization.

Based on the data provided, Qualys Inc's total asset turnover has shown a fluctuating trend over the past five years. In 2023, the total asset turnover was 0.68, slightly lower than the previous year's ratio of 0.70. This indicates that Qualys Inc generated $0.68 in revenue for every dollar of total assets in 2023.

Compared to 2021 and 2020 where the total asset turnover was 0.50 and 0.49 respectively, there has been an improvement in the company's efficiency in utilizing its assets to generate revenue. However, it is noteworthy that the total asset turnover has been relatively consistent in the range of 0.48 to 0.70 over the past few years.

Further analysis and comparison with industry benchmarks or competitors' ratios would provide additional insights into Qualys Inc's performance in utilizing its assets effectively to drive revenue generation.