Qorvo Inc (QRVO)

Total asset turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	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	3,132,251	3,095,508	3,173,253
Total assets	US$ in thousands	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	6,519,500	5,848,570	5,926,380
Total asset turnover		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	0.48	0.53	0.54

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,769,502K ÷ $6,554,640K
= 0.58

Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its total assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate revenue. Over the past quarters, Qorvo Inc's total asset turnover has shown some fluctuations. The ratio ranged from 0.45 to 0.62, with an average of around 0.53.

The trend indicates variations in the company's effectiveness in utilizing its assets to generate sales revenue. A consistent ratio at the higher end of the range could signal efficient asset management and a strong revenue-generating ability. On the other hand, fluctuations could suggest changes in the company's sales levels in relation to its asset base.

Analyzing the total asset turnover alongside other financial metrics and industry benchmarks can provide a more comprehensive understanding of Qorvo Inc's operational efficiency and performance.