UFP Technologies Inc (UFPT)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	504,413	461,841	416,527	405,191	397,074	386,813	383,088	384,042	358,074	323,180	277,782	228,683	206,351	195,161	187,703	179,327	179,009	184,116	190,075	198,959
Total assets	US$ in thousands	628,995	638,508	422,396	407,679	404,136	399,810	397,992	390,782	378,192	388,319	395,051	363,346	334,132	220,686	217,286	209,180	203,204	200,664	197,219	194,213
Total asset turnover		0.80	0.72	0.99	0.99	0.98	0.97	0.96	0.98	0.95	0.83	0.70	0.63	0.62	0.88	0.86	0.86	0.88	0.92	0.96	1.02

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $504,413K ÷ $628,995K
= 0.80

UFP Technologies Inc's total asset turnover ratio has shown fluctuations over the past few years. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher ratio typically suggests better asset utilization.

The trend of UFP Technologies Inc's total asset turnover ratio declined from 1.02 in March 2020 to 0.80 in December 2024. This indicates a decrease in the company's ability to generate sales from its total assets over the period.

There were periods of slight increase in the ratio, with the highest point at 0.99 in March 2024 and June 2024. However, these improvements were short-lived as the ratio decreased again in the following quarters.

Overall, the declining trend in total asset turnover indicates potential inefficiencies in asset management or a decrease in sales relative to the total assets held by the company. Further analysis of the company's operations and financial performance may be needed to address these challenges and improve asset turnover efficiency.