Teleflex Incorporated (TFX)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,908,220	2,757,200	2,758,900	2,489,840	2,525,140
Total assets	US$ in thousands	7,532,550	6,928,060	6,871,720	7,152,560	6,309,820
Total asset turnover		0.39	0.40	0.40	0.35	0.40

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,908,220K ÷ $7,532,550K
= 0.39

Teleflex Incorporated's total asset turnover has shown some fluctuation over the past five years, ranging from 0.35 to 0.41. This ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher ratio indicates that the company is able to generate more revenue per dollar of assets, reflecting better asset utilization.

In 2023, Teleflex's total asset turnover decreased slightly to 0.39 from 0.40 in 2022. This suggests that the company generated $0.39 in sales for every dollar of assets held during the year. While the decrease may indicate potential inefficiencies in asset utilization, it is important to consider industry benchmarks and the company's specific circumstances to fully assess the impact.

Overall, Teleflex's total asset turnover has been relatively stable around the 0.40 mark, indicating a consistent ability to generate revenue from its assets. Further analysis of the company's operations and financial performance would provide more insights into the factors influencing this ratio and its implications for Teleflex's overall financial health.