Sitime Corporation (SITM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 143,993 | 283,605 | 218,808 | 116,156 | 84,074 |
| Total assets | US$ in thousands | 951,683 | 750,616 | 678,209 | 136,011 | 123,391 |
| Total asset turnover | 0.15 | 0.38 | 0.32 | 0.85 | 0.68 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $143,993K ÷ $951,683K
= 0.15
The total asset turnover of SiTime Corp has exhibited some fluctuations over the past five years, ranging from a low of 0.15 in 2023 to a high of 0.85 in 2020. The total asset turnover ratio indicates the company's efficiency in generating sales revenue relative to its total assets. A higher ratio typically signifies more efficient asset utilization.
The significant decrease in total asset turnover from 2020 to 2023 may suggest potential inefficiencies in the company's asset management or a slowdown in sales relative to its asset base. This could indicate a need for the company to streamline its operations or reconsider its asset allocation strategy to enhance overall efficiency and profitability. Monitoring this ratio over time can provide valuable insights into SiTime Corp's operational performance and effectiveness in utilizing its assets to drive revenue generation.
Peer comparison
Dec 31, 2023