RadNet Inc (RDNT)
Total asset turnover
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,616,630 | 1,580,123 | 1,528,199 | 1,478,859 | 1,430,062 | 1,379,335 | 1,361,981 | 1,341,524 | 1,315,076 | 1,289,862 | 1,248,948 | 1,105,596 | 1,071,841 | 1,064,746 | 1,065,662 | 1,164,193 | 1,154,178 | 1,110,549 | 1,060,005 | 1,015,303 |
| Total assets | US$ in thousands | 2,690,470 | 2,688,020 | 2,705,290 | 2,414,070 | 2,433,910 | 2,247,160 | 2,240,720 | 2,141,520 | 2,058,470 | 2,042,360 | 2,032,200 | 1,828,790 | 1,786,660 | 1,717,870 | 1,717,000 | 1,699,390 | 1,646,990 | 1,617,900 | 1,596,680 | 1,526,070 |
| Total asset turnover | 0.60 | 0.59 | 0.56 | 0.61 | 0.59 | 0.61 | 0.61 | 0.63 | 0.64 | 0.63 | 0.61 | 0.60 | 0.60 | 0.62 | 0.62 | 0.69 | 0.70 | 0.69 | 0.66 | 0.67 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,616,630K ÷ $2,690,470K
= 0.60
Total asset turnover reflects how efficiently a company is utilizing its assets to generate revenue. A higher total asset turnover indicates that the company is effectively using its assets to generate sales.
From the data provided for Radnet Inc, we can see that the total asset turnover ratio has varied over the past eight quarters. The ratio has ranged from 0.56 to 0.63, with some fluctuations seen quarter to quarter.
The trend in total asset turnover for Radnet Inc is relatively stable, hovering around the 0.6 mark. This suggests that the company's assets are being efficiently utilized to generate revenue, as the total asset turnover ratio is relatively consistent over time.
While a total asset turnover ratio of around 0.6 indicates that Radnet Inc is efficiently utilizing its assets, further analysis, such as comparing with industry averages or historical performance, would provide more insight into the company's asset management efficiency.
Peer comparison
Dec 31, 2023