Tandem Diabetes Care Inc (TNDM)

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	739,136	762,842	785,031	789,444	796,589	786,083	761,228	733,133	697,845	655,914	596,546	531,931	490,754	431,087	406,936	394,167	362,230	330,031	274,984	212,752
Total assets	US$ in thousands	952,658	939,909	946,676	954,145	1,052,780	1,047,520	1,036,580	1,015,280	905,137	850,279	795,250	754,273	716,415	672,988	616,239	343,327	326,110	292,647	255,081	214,698
Total asset turnover		0.78	0.81	0.83	0.83	0.76	0.75	0.73	0.72	0.77	0.77	0.75	0.71	0.69	0.64	0.66	1.15	1.11	1.13	1.08	0.99

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $739,136K ÷ $952,658K
= 0.78

Tandem Diabetes Care Inc's total asset turnover has shown some fluctuation over the past 8 quarters ranging from 0.73 to 0.83. The total asset turnover ratio measures the company's efficiency in generating sales revenue from its assets. A higher total asset turnover ratio indicates that the company is using its assets more effectively to generate revenue.

In this case, we can see that the total asset turnover ratio has generally been improving since Q4 2022, reaching a peak of 0.83 in Q2 and Q3 of 2023. This suggests that Tandem Diabetes Care Inc has been able to generate more sales relative to its total assets during these quarters, indicating improved efficiency in asset utilization.

However, it is important to note that the ratio slightly decreased in Q4 2023 to 0.78. Despite this decrease, the ratio remains relatively stable, indicating consistent performance in utilizing its assets efficiently to generate revenue over the period analyzed.

Overall, Tandem Diabetes Care Inc's total asset turnover ratio demonstrates a positive trend with some minor fluctuations, suggesting that the company has been effectively leveraging its assets to drive sales, which is a positive indicator for investors and stakeholders.