Sitime Corporation (SITM)

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
Revenue (ttm)	US$ in thousands	143,994	162,430	200,005	251,695	283,605	298,507	288,441	253,519	218,808	183,341	152,979	129,956	116,156	103,971
Total assets	US$ in thousands	951,683	747,687	745,504	746,428	750,616	738,054	733,963	698,048	678,209	367,443	334,383	324,076	136,011	127,697	155,476	128,214	123,391
Total asset turnover		0.15	0.22	0.27	0.34	0.38	0.40	0.39	0.36	0.32	0.50	0.46	0.40	0.85	0.81

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $143,994K ÷ $951,683K
= 0.15

SiTime Corp's total asset turnover has varied over the past eight quarters. The total asset turnover ratio indicates how efficiently the company is using its assets to generate revenue. A higher ratio signifies that the company is generating more revenue per dollar of assets.

In the most recent quarter (Q4 2023), the total asset turnover was 0.15, the lowest value in the time series provided. This suggests that SiTime Corp may not be utilizing its assets as efficiently to generate revenue compared to previous quarters.

Looking back over the past quarters, the total asset turnover has shown a declining trend from Q1 2022 to Q4 2023, with occasional fluctuations. The ratio peaked at 0.40 in Q3 2022 and has steadily decreased since then.

The decreasing trend in total asset turnover could indicate potential inefficiencies in asset utilization or changes in the company's business operations. It may be beneficial for SiTime Corp to assess its asset management strategies to improve efficiency and increase revenue generation from its assets.