Synopsys Inc (SNPS)
Total asset turnover
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,842,620 | 5,081,540 | 4,204,190 | 3,685,280 | 3,360,690 |
| Total assets | US$ in thousands | 10,333,100 | 9,418,090 | 8,752,260 | 8,030,060 | 6,405,160 |
| Total asset turnover | 0.57 | 0.54 | 0.48 | 0.46 | 0.52 |
October 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,842,620K ÷ $10,333,100K
= 0.57
The total asset turnover of Synopsys, Inc. has shown a consistent improvement over the past five years, indicating the company's ability to generate sales revenue relative to its total assets. The ratio increased from 0.52 in 2019 to 0.57 in 2023. This improvement suggests that Synopsys has been more efficient in utilizing its assets to generate sales, which may be attributed to better operational management or increased demand for its products and services. A higher total asset turnover ratio generally indicates better asset utilization and efficiency in generating revenue. It reflects positively on the company's operational performance and financial health.
Peer comparison
Oct 31, 2023