Varex Imaging Corp (VREX)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 893,400 | 859,400 | 818,100 | 738,300 | 780,600 |
| Total assets | US$ in thousands | 1,249,600 | 1,184,400 | 1,147,500 | 1,139,500 | 1,038,900 |
| Total asset turnover | 0.71 | 0.73 | 0.71 | 0.65 | 0.75 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $893,400K ÷ $1,249,600K
= 0.71
The total asset turnover of Varex Imaging Corp has shown fluctuations over the past five years. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. A decreasing trend from 2019 to 2020 was observed, with a total asset turnover ratio dropping from 0.75 to 0.65. However, there was a slight improvement in 2021, reaching 0.71, which was maintained in 2023. This suggests that the company is generating $0.71 in revenue for every dollar of assets in both 2023 and 2021, indicating moderate efficiency in asset utilization. Further analysis into the company's operations and industry benchmarks would provide deeper insights into the efficiency of its asset management.
Peer comparison
Sep 30, 2023