Silicon Laboratories Inc (SLAB)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	782,258	1,024,110	720,860	510,928	473,785
Total assets	US$ in thousands	1,443,060	2,169,430	2,958,300	1,993,490	1,674,850
Total asset turnover		0.54	0.47	0.24	0.26	0.28

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $782,258K ÷ $1,443,060K
= 0.54

Silicon Laboratories Inc's total asset turnover has shown improvement over the past five years, progressing from 0.28 in 2019 to 0.54 in 2023. This indicates that the company generated $0.54 in revenue for every dollar of assets it owned in 2023, reflecting a more efficient utilization of its assets to generate sales. The increasing trend suggests that Silicon Laboratories has been able to improve its productivity and efficiency in utilizing its assets to drive revenue growth. Overall, the rising total asset turnover ratio indicates that the company's asset management and utilization have become more effective and efficient over the years.