STAAR Surgical Company (STAA)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 322,415 | 284,391 | 230,472 | 163,460 | 150,185 |
| Total assets | US$ in thousands | 488,692 | 418,818 | 345,778 | 257,416 | 207,523 |
| Total asset turnover | 0.66 | 0.68 | 0.67 | 0.64 | 0.72 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $322,415K ÷ $488,692K
= 0.66
STAAR Surgical Company's total asset turnover ratio has been relatively stable over the past five years, ranging from 0.64 in 2020 to 0.72 in 2019, with an average of approximately 0.67. This ratio indicates that, on average, the company generates $0.67 in revenue for every dollar of assets it holds.
A total asset turnover ratio of less than 1 suggests that the company is not efficiently utilizing its assets to generate revenue. In STAAR's case, the ratios over the years indicate that there may be room for improvement in utilizing assets more effectively to generate sales.
Overall, it would be beneficial for STAAR to analyze its asset management strategies and consider ways to increase its total asset turnover ratio to optimize its use of resources and enhance financial performance.
Peer comparison
Dec 31, 2023