Teleflex Incorporated (TFX)

Total asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,911,099	2,896,815	2,847,031	2,814,657	2,739,870	2,666,841	2,681,690	2,672,883	2,658,512	2,705,531	2,628,918	2,495,954	2,494,257	2,464,030	2,481,625	2,562,494	2,533,648	2,494,311	2,447,888	2,425,533
Total assets	US$ in thousands	7,532,550	7,493,630	6,895,720	6,917,920	6,928,060	6,758,090	6,731,850	6,873,310	6,871,720	7,039,960	7,066,390	7,028,020	7,152,560	6,613,290	6,765,130	6,701,560	6,309,820	6,257,180	6,314,410	6,268,070
Total asset turnover		0.39	0.39	0.41	0.41	0.40	0.39	0.40	0.39	0.39	0.38	0.37	0.36	0.35	0.37	0.37	0.38	0.40	0.40	0.39	0.39

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,911,099K ÷ $7,532,550K
= 0.39

The total asset turnover for Teleflex Incorporated has been relatively stable over the past eight quarters, ranging from 0.39 to 0.42. This ratio measures the efficiency with which the company generates revenue from its total assets. A total asset turnover ratio below 1 indicates that the company is not generating a high level of revenue relative to its total assets.

Teleflex's total asset turnover has been around 0.40 on average, indicating that the company generates approximately $0.40 in revenue for every dollar of total assets it holds. A relatively stable total asset turnover suggests that Teleflex has been able to maintain a consistent level of efficiency in utilizing its assets to generate revenue over the period analyzed.

However, it is important to note that a complete analysis of the total asset turnover should be done in conjunction with other financial ratios and qualitative information to assess the overall financial health and operating efficiency of Teleflex Incorporated.