Viatris Inc (VTRS)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	15,426,900	16,262,700	17,886,300	11,946,000	11,500,500
Total assets	US$ in thousands	47,685,500	50,022,200	54,842,800	61,553,000	31,255,500
Total asset turnover		0.32	0.33	0.33	0.19	0.37

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $15,426,900K ÷ $47,685,500K
= 0.32

The total asset turnover ratio for Viatris Inc has shown fluctuations over the past five years. In 2023, the total asset turnover was 0.32, a decrease from the previous year's 0.33. This decline indicates that Viatris generated $0.32 in sales for every $1 of assets in 2023. Comparing this to the peak of 0.37 in 2019, it is evident that the company's efficiency in utilizing its assets to generate revenue has declined. A lower total asset turnover ratio could imply inefficiencies in managing inventory, collecting receivables, or utilizing assets effectively to drive sales. Further analysis of the company's operational performance and asset utilization strategies would be crucial in understanding the reasons behind these fluctuations and identifying potential areas for improvement.