Gentherm Inc (THRM)

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	1,448,509	1,428,068	1,388,525	1,281,481	1,193,283	1,106,858	1,024,469	1,025,636	1,044,506	1,083,664	1,096,100	964,238	903,018	845,665	833,218	941,502	976,202	1,001,836	1,016,668	1,043,099
Total assets	US$ in thousands	1,234,370	1,225,600	1,244,050	1,268,750	1,239,300	1,241,330	947,046	967,113	935,343	943,978	933,873	932,454	1,022,840	921,447	823,370	893,370	738,832	737,671	751,910	763,046
Total asset turnover		1.17	1.17	1.12	1.01	0.96	0.89	1.08	1.06	1.12	1.15	1.17	1.03	0.88	0.92	1.01	1.05	1.32	1.36	1.35	1.37

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,448,509K ÷ $1,234,370K
= 1.17

The total asset turnover ratio for Gentherm Inc has shown fluctuations over the past eight quarters, ranging from 0.89 to 1.19. The ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher ratio indicates that the company is better at utilizing its assets to generate sales.

In Q4 2023, the total asset turnover ratio increased to 1.19, the highest level in the provided data set. This suggests that Gentherm Inc was able to generate $1.19 in sales for every $1 of assets held during that quarter, indicating improved asset utilization efficiency.

In contrast, the lowest total asset turnover ratio was observed in Q3 2022 at 0.89. This could imply that the company was less effective in utilizing its assets to generate sales revenue during that period.

Overall, it is crucial to monitor the total asset turnover ratio over time to assess the company's operational efficiency and the effectiveness of its asset management strategies.