CrowdStrike Holdings Inc. (NASDAQ:CRWD)

The total asset turnover ratio for the analyzed period demonstrates an overall increasing trend, albeit with some stabilization in recent years. Initially, the ratio experienced a slight decrease before recovering and then plateauing. This suggests evolving efficiency in utilizing assets to generate revenue.

Total Asset Turnover Trend

In 2020, the total asset turnover ratio was 0.34. This decreased to 0.32 in 2021. A notable increase occurred in 2022, with the ratio rising to 0.40. The upward trend continued into 2023, reaching 0.45. The ratio experienced a marginal increase to 0.46 in 2024, and then stabilized at 0.45 in 2025.

The initial decline in 2021 may indicate a period of significant asset investment that had not yet fully translated into increased revenue. The subsequent increases in 2022 and 2023 suggest improved asset utilization and operational efficiency. The stabilization observed in 2024 and 2025 could signify that the company has reached a point of optimized asset deployment, or that revenue growth is now more closely aligned with asset levels.

Relationship to Revenue Growth

Revenue consistently increased throughout the period, from US$481,413 thousand in 2020 to US$3,953,624 thousand in 2025. The increasing asset turnover ratio from 2021 to 2023 coincided with accelerating revenue growth, suggesting a positive correlation between asset efficiency and top-line performance. The stabilization of the turnover ratio in the latest two years does not appear to have hindered continued revenue expansion, indicating other factors are driving sales.

The company demonstrates a growing ability to generate revenue from its asset base. While the rate of improvement in asset turnover has slowed recently, the ratio remains at a relatively healthy level, suggesting effective asset management practices.