Vericel Corp Ord (VCEL)

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	197,516	185,214	178,184	169,308	164,365	159,262	155,217	157,690	156,184	153,822	151,574	132,069	124,179	118,340	116,581	122,718	117,850	109,795	101,780	94,640
Total assets	US$ in thousands	353,657	318,125	310,711	265,096	273,003	248,017	244,815	240,288	243,705	224,143	221,945	211,464	205,608	157,504	146,691	150,265	153,238	137,527	125,826	141,229
Total asset turnover		0.56	0.58	0.57	0.64	0.60	0.64	0.63	0.66	0.64	0.69	0.68	0.62	0.60	0.75	0.79	0.82	0.77	0.80	0.81	0.67

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $197,516K ÷ $353,657K
= 0.56

Vericel Corp's total asset turnover has shown some fluctuation over the past eight quarters. The ratio ranged from a low of 0.56 in Q4 of 2023 to a high of 0.66 in Q1 of 2022. This ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher total asset turnover ratio is generally preferred as it indicates that the company is generating more revenue per dollar of assets. Vericel Corp's total asset turnover has ranged between 0.56 and 0.66, suggesting that the company may be improving its asset utilization efficiency over time, although there were fluctuations in the ratio. Further analysis and comparison with industry peers may provide a better understanding of the company's efficiency in using its assets.