Qorvo Inc (QRVO)

Total asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	3,769,510	3,569,400	4,645,710	4,015,310	3,239,140
Total assets	US$ in thousands	6,554,640	6,691,900	7,509,070	7,221,470	6,560,680
Total asset turnover		0.58	0.53	0.62	0.56	0.49

March 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $3,769,510K ÷ $6,554,640K
= 0.58

Based on the data provided, Qorvo Inc's total asset turnover has fluctuated over the past five years. The total asset turnover ratio measures the company's efficiency in generating sales from its total assets. A higher total asset turnover ratio indicates that the company is more efficient in utilizing its assets to generate revenue.

In the fiscal year ending March 31, 2024, Qorvo Inc's total asset turnover ratio was 0.58, reflecting an increase from the previous year. This suggests that the company was more efficient in generating sales from its assets compared to the prior year.

In the fiscal year ending March 31, 2023, the total asset turnover ratio was 0.53, indicating a slight decrease compared to the previous year. However, it is worth noting that the ratio was still higher compared to the fiscal years ending March 31, 2021 and March 31, 2020.

Overall, Qorvo Inc's total asset turnover ratio has shown variability over the past five years, with some fluctuations observed. The company's ability to efficiently utilize its total assets to generate sales has improved in some years, indicating potential operational efficiency gains. However, it is important to further analyze the underlying factors contributing to these fluctuations to assess the company's overall asset management effectiveness.