UFP Technologies Inc (UFPT)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 505,715 | 398,082 | 374,929 | 206,246 | 178,831 |
| Total assets | US$ in thousands | 628,995 | 404,136 | 378,192 | 334,132 | 203,204 |
| Total asset turnover | 0.80 | 0.99 | 0.99 | 0.62 | 0.88 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $505,715K ÷ $628,995K
= 0.80
The total asset turnover of UFP Technologies Inc has shown some fluctuations over the past five years. In December 2020, the total asset turnover stood at 0.88, indicating that the company generated $0.88 in sales for every $1 of assets it held. However, by December 2021, this ratio decreased to 0.62, suggesting a decline in efficiency in utilizing its assets to generate revenue.
The years 2022 and 2023 saw an improvement in total asset turnover, reaching 0.99 for both years. This indicates that the company was able to generate nearly $1 in sales for each dollar of assets invested, reflecting better asset utilization efficiency.
In December 2024, the total asset turnover ratio dropped to 0.80, signaling a decrease in efficiency compared to the previous two years. Despite the fluctuations, UFP Technologies Inc generally maintained a reasonable level of asset turnover, with room for improvement in certain periods to enhance its operational efficiency and profitability.
Peer comparison
Dec 31, 2024