Semtech Corporation (SMTC)

Total asset turnover

		Jan 28, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Oct 25, 2020	Jul 26, 2020	Apr 26, 2020	Jan 26, 2020	Oct 27, 2019	Jul 28, 2019	Apr 28, 2019
Revenue (ttm)	US$ in thousands	772,917	763,303	767,436	779,319	763,414	792,738	810,086	767,944	735,907	709,482	668,860	627,430	589,413	565,090	550,841	542,981	674,392	696,397	904,517	1,096,236
Total assets	US$ in thousands	1,373,740	2,038,130	2,118,600	2,500,020	2,569,630	1,466,850	1,199,830	1,115,920	1,130,910	1,121,300	1,100,000	1,069,620	1,082,100	1,047,970	1,054,030	1,023,350	1,052,430	1,039,140	1,056,310	1,053,410
Total asset turnover		0.56	0.37	0.36	0.31	0.30	0.54	0.68	0.69	0.65	0.63	0.61	0.59	0.54	0.54	0.52	0.53	0.64	0.67	0.86	1.04

January 28, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $772,917K ÷ $1,373,740K
= 0.56

Semtech Corporation's total asset turnover ratio has shown fluctuations over the past several quarters. The ratio ranged from a low of 0.30 in January 2023 to a high of 1.04 in April 2019. Generally, a higher total asset turnover ratio indicates that the company is generating more revenue for each dollar of assets it owns, implying better efficiency in asset utilization.

In the most recent quarter, the total asset turnover ratio was 0.56, suggesting a moderate level of revenue generation relative to the total assets on the company's balance sheet. It is essential for Semtech Corporation to monitor this ratio over time to ensure that it is effectively utilizing its assets to generate revenue and maintain financial health.