Vertex Pharmaceuticals Inc (VRTX)

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	9,803,200	9,596,700	9,444,700	9,144,300	8,863,500	8,628,770	8,277,080	7,873,370	7,499,400	7,066,960	6,622,470	6,355,190	6,147,530	5,935,020	5,347,582	4,763,428	4,106,025	3,577,111	3,416,521	3,232,116
Total assets	US$ in thousands	22,730,200	21,726,200	20,349,200	18,974,200	18,150,900	16,706,400	15,582,200	14,256,100	13,432,500	12,618,700	12,221,700	12,115,100	11,751,800	11,301,600	10,216,400	8,893,200	8,318,460	7,514,550	7,033,470	6,543,110
Total asset turnover		0.43	0.44	0.46	0.48	0.49	0.52	0.53	0.55	0.56	0.56	0.54	0.52	0.52	0.53	0.52	0.54	0.49	0.48	0.49	0.49

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,803,200K ÷ $22,730,200K
= 0.43

Vertex Pharmaceuticals, Inc.'s total asset turnover has been showing a declining trend over the past eight quarters. The ratios have decreased from 0.56 in Q1 2022 to 0.43 in Q4 2023. This indicates that the company is generating less revenue for each dollar of assets during this period. A lower total asset turnover ratio may signify inefficiencies in asset utilization or declining sales relative to the size of the asset base. Management should investigate the reasons behind this trend to identify potential areas for improvement in operational efficiency and profitability.