Qorvo Inc (QRVO)
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 | 3,790,486 | 3,948,029 | 4,005,009 | 3,769,502 | 3,461,217 | 3,130,638 | 3,185,208 | 3,569,404 | 4,102,861 | 4,473,540 | 4,570,730 | 4,645,720 | 4,552,290 | 4,533,160 | 4,338,200 | 4,015,301 | 3,730,343 | 3,504,586 | 3,250,994 | 3,239,141 |
| Total assets | US$ in thousands | 5,963,100 | 6,503,080 | 6,447,300 | 6,554,640 | 6,699,390 | 6,718,520 | 6,686,590 | 6,691,900 | 7,076,220 | 7,374,730 | 7,330,520 | 7,509,070 | 7,626,580 | 7,576,460 | 7,271,860 | 7,221,470 | 7,041,380 | 7,824,420 | 6,882,690 | 6,560,680 |
| Total asset turnover | 0.64 | 0.61 | 0.62 | 0.58 | 0.52 | 0.47 | 0.48 | 0.53 | 0.58 | 0.61 | 0.62 | 0.62 | 0.60 | 0.60 | 0.60 | 0.56 | 0.53 | 0.45 | 0.47 | 0.49 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,790,486K ÷ $5,963,100K
= 0.64
Qorvo Inc's total asset turnover ratio has shown some fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio started at 0.49 in March 2020, indicating that the company generated $0.49 in sales for every dollar of assets.
There was a slight decline in the ratio for the next few quarters, reaching 0.45 in September 2020. However, from that point onwards, the total asset turnover ratio gradually increased, surpassing 0.60 from March 2021 to June 2022. This suggests that the company became more efficient in generating sales relative to its total assets during this period.
Towards the end of 2022 and the beginning of 2023, the total asset turnover ratio decreased slightly to around 0.52 in December 2023. However, there was a rebound in the ratio in the following quarters, reaching 0.64 by December 31, 2024, indicating that the company was able to generate $0.64 in sales for every dollar of assets at the end of the period under consideration.
Overall, the trend in Qorvo Inc's total asset turnover ratio shows some variability but demonstrates an overall improvement in the company's efficiency in utilizing its assets to generate sales over the analyzed period.
Peer comparison
Dec 31, 2024