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.