TechTarget Inc (TTGT)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 246,651 | 298,349 | 240,152 | 148,059 | 133,266 |
| Total assets | US$ in thousands | 699,888 | 764,717 | 789,000 | 456,568 | 221,608 |
| Total asset turnover | 0.35 | 0.39 | 0.30 | 0.32 | 0.60 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $246,651K ÷ $699,888K
= 0.35
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its assets. Techtarget Inc.'s total asset turnover has fluctuated over the past five years, indicating variations in its asset utilization efficiency.
In 2023, the total asset turnover ratio was 0.33, which was lower compared to 2022 and 2019 but similar to the ratio in 2021 and 2020. This indicates that for every dollar of assets the company had in 2023, it generated $0.33 in sales revenue.
The gradual decline in total asset turnover from 2019 (0.60) to 2023 suggests that Techtarget Inc. may be facing challenges in efficiently utilizing its assets to drive sales growth. A lower total asset turnover ratio could be a sign of inefficient asset management, excess investment in non-productive assets, or declining sales relative to its asset base.
Further analysis and comparison with industry benchmarks or competitors' ratios would provide additional insights into Techtarget Inc.'s asset management efficiency and help identify areas for improvement.
Peer comparison
Dec 31, 2023