Regeneron Pharmaceuticals Inc (REGN)

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	13,044,200	13,025,200	12,601,200	12,306,100	12,113,500	13,654,100	14,171,800	16,451,800	16,014,400	13,499,700	12,328,800	9,147,000	8,455,000	8,201,600	7,974,500	7,957,900	7,839,900	7,598,200	7,213,600	6,889,000
Total assets	US$ in thousands	33,080,200	32,163,300	30,657,500	30,059,900	29,214,500	27,677,800	27,205,800	26,348,700	25,434,800	23,671,500	21,485,900	17,772,200	17,163,300	16,084,000	14,428,700	15,757,500	14,805,200	13,939,300	13,173,600	12,854,800
Total asset turnover		0.39	0.40	0.41	0.41	0.41	0.49	0.52	0.62	0.63	0.57	0.57	0.51	0.49	0.51	0.55	0.51	0.53	0.55	0.55	0.54

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $13,044,200K ÷ $33,080,200K
= 0.39

Regeneron Pharmaceuticals, Inc.'s total asset turnover has been gradually declining over the past few quarters, indicating a decrease in the efficiency of the company's asset utilization. The total asset turnover ratio measures a company's ability to generate sales from its assets, with a higher ratio typically indicating better efficiency.

In Q4 2023, the total asset turnover ratio was 0.40, which means that for every dollar of assets the company had, it generated $0.40 in sales. This ratio remained relatively stable compared to the previous three quarters, which all stood at 0.41. However, there was a notable drop from the previous year, where the ratio was 0.42 in Q4 2022.

Looking back further to Q3 and Q2 of 2022, the total asset turnover was higher at 0.50 and 0.52, respectively, indicating that Regeneron Pharmaceuticals was more efficient in generating sales from its assets during that period. The highest total asset turnover was recorded in Q1 2022 at 0.63, suggesting the company's assets were highly utilized to generate sales at that time.

Overall, the declining trend in total asset turnover for Regeneron Pharmaceuticals, Inc. from 2022 to 2023 may raise concerns about the company's asset efficiency and its ability to generate sufficient sales from its asset base. It would be important for the company to analyze the underlying reasons for this decline and consider strategies to improve its asset utilization in order to enhance overall performance and profitability.