Repligen Corporation (RGEN)

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	624,137	668,700	728,189	776,656	800,374	797,146	771,730	724,184	657,807	583,191	499,203	423,845	351,528	312,354	282,284	266,775	258,269	240,737	227,641	204,754
Total assets	US$ in thousands	2,824,410	2,514,130	2,549,000	2,538,230	2,524,660	2,462,530	2,444,920	2,383,820	2,358,350	2,241,400	2,015,960	1,927,330	1,902,890	1,476,320	1,442,040	1,406,480	1,400,110	1,378,710	1,068,270	797,921
Total asset turnover		0.22	0.27	0.29	0.31	0.32	0.32	0.32	0.30	0.28	0.26	0.25	0.22	0.18	0.21	0.20	0.19	0.18	0.17	0.21	0.26

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $624,137K ÷ $2,824,410K
= 0.22

The total asset turnover ratio for Repligen Corp. has been gradually decreasing over the past eight quarters, starting at 0.32 in Q4 2022 and reaching 0.23 in Q4 2023. This indicates that the company's efficiency in generating sales from its total assets has declined. A lower total asset turnover ratio could suggest that the company is not effectively utilizing its assets to generate revenue.

A declining total asset turnover ratio may be a cause for concern as it could indicate inefficiencies in asset management or a decrease in sales relative to the size of the asset base. Investors and stakeholders may want to further investigate the reasons behind this trend and assess the company's overall operational performance and financial health. Additionally, management should consider implementing strategies to improve asset utilization and enhance overall operational efficiency.