Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Shockwave Medical Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio begins reporting from the first quarter of 2020 at 8.74 and then declines sharply to 3.89 by the second quarter of 2020. Subsequently, it remains relatively stable in the 3.8–4.5 range through the end of 2020. Starting in 2021, there is a consistent upward trend, increasing to a peak of 11.28 in the third quarter of 2022. After reaching this peak, the ratio fluctuates slightly but remains strong, maintaining values above 10 through the first quarter of 2024, with a minor decline to 10.01.
- Net Fixed Asset Turnover Including Operating Lease, Right-of-Use Asset
- This broader measure also starts from the first quarter of 2020 at 3.13. It exhibits a decline through mid-2020, reaching its lowest point of 2.36 in the second quarter. From there, a gradual recovery and improvement trend is observed, rising steadily to 7.4 in the third quarter of 2023. A slight reduction to 6.94 occurs in the first quarter of 2024. Overall, the pattern is one of initial contraction followed by a sustained strengthening of efficiency in utilizing fixed assets, including leased assets.
- Total Asset Turnover
- Total asset turnover shows moderate volatility but generally follows a rising trend from the beginning of 2020 at 0.19. It increases steadily to a peak of 0.90 in the fourth quarter of 2022. After this peak, the ratio drops back to a range near 0.46–0.48 by the fourth quarter of 2023 and first quarter of 2024. This suggests improved asset utilization in 2021 and early 2022, followed by some reduction in efficiency or slower growth in asset generation of revenues afterward.
- Equity Turnover
- Equity turnover demonstrates a strengthening pattern beginning at 0.22 in the first quarter of 2020. It rises over time with some variability and reaches values above 1.0 starting in the third quarter of 2021. The highest value is 1.21 in the third quarter of 2022. After this peak, the ratio experiences a modest decline, ending at 1.05 in the first quarter of 2024. This reflects increasing effectiveness in generating sales relative to equity over the period, with a stable level maintained in recent quarters.
- Summary
- Overall, the data reveals a phase of initial contraction in asset turnover ratios during early 2020, likely reflecting operational impacts. Following this, a recovery and consistent strengthening trend in net fixed asset turnover and equity turnover is notable, indicating improved utilization of fixed assets and equity to drive revenues. Total asset turnover similarly improves but shows more pronounced fluctuations and a decline after late 2022, hinting at possible changes in asset base or revenue dynamics. The broader fixed asset turnover measure, which includes operating leases, follows a similar recovery pattern but at lower absolute levels relative to net fixed assets alone, suggesting the impact of lease assets on asset utilization metrics.
Net Fixed Asset Turnover
Shockwave Medical Inc., net fixed asset turnover calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Revenue | 218,805) | 202,979) | 186,020) | 180,165) | 161,066) | 144,026) | 131,330) | 120,746) | 93,631) | 84,183) | 65,155) | 55,908) | 31,900) | 22,716) | 19,590) | 10,286) | 15,197) | 14,313) | 11,333) | 10,012) | 7,269) | |||||||
| Property and equipment, net | 78,693) | 68,923) | 62,017) | 59,803) | 54,057) | 48,152) | 39,265) | 32,253) | 27,886) | 24,361) | 23,085) | 21,467) | 20,233) | 16,362) | 13,282) | 13,287) | 13,084) | 4,910) | 4,111) | 3,244) | 2,803) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 10.01 | 10.59 | 10.82 | 10.31 | 10.31 | 10.17 | 10.95 | 11.28 | 10.72 | 9.73 | 7.61 | 6.06 | 4.18 | 4.14 | 4.47 | 3.85 | 3.89 | 8.74 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 3.99 | 3.95 | 4.18 | 4.26 | 4.47 | 4.76 | 5.18 | 5.17 | 5.00 | 4.81 | 4.79 | 4.56 | 4.23 | 3.83 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 38.32 | 39.05 | 39.41 | 36.19 | 36.14 | 36.07 | 36.22 | 36.17 | 35.81 | 34.94 | 34.54 | 34.17 | 34.94 | 34.69 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 1.93 | 2.01 | 2.23 | 2.35 | 2.49 | 2.62 | 2.73 | 2.83 | 3.00 | 3.04 | 3.16 | 3.13 | 2.86 | 2.76 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 5.57 | 5.61 | 5.66 | 5.82 | 5.88 | 5.85 | 6.05 | 6.13 | 6.12 | 5.77 | 5.56 | 5.64 | 5.72 | 5.99 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 35.98 | 32.10 | 32.18 | 31.60 | 31.35 | 31.81 | 33.07 | 32.33 | 32.16 | 31.81 | 31.77 | 30.94 | 30.76 | 29.64 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Net fixed asset turnover
= (RevenueQ1 2024
+ RevenueQ4 2023
+ RevenueQ3 2023
+ RevenueQ2 2023)
÷ Property and equipment, net
= (218,805 + 202,979 + 186,020 + 180,165)
÷ 78,693 = 10.01
2 Click competitor name to see calculations.
- Revenue
- The revenue demonstrates a generally strong upward trend over the entire period. Beginning at $7.3 million in the first quarter of 2019, revenue shows steady quarterly growth with a noticeable acceleration starting in early 2021. From March 2021 onwards, revenue climbs significantly from approximately $32 million to almost $219 million by the first quarter of 2024. This reflects sustained business expansion and increasing sales over time. Despite a dip in mid-2020, possibly linked to external disruptions, the revenue recovered quickly and continued growing at an accelerated pace.
- Property and equipment, net
- The net value of property and equipment increases consistently throughout the timeframe, starting at around $2.8 million in early 2019 and reaching close to $79 million by the first quarter of 2024. This indicates substantial investment in fixed assets, suggesting capacity expansion or modernization of facilities. The growth is particularly notable from late 2019 onwards, where the asset base more than triples, reflecting strategic capital expenditures aligned with the rising revenue.
- Net fixed asset turnover
- The net fixed asset turnover ratio, which measures revenue generated per dollar of net fixed assets, is initially missing for early periods but then becomes available from late 2019. The ratio fluctuates between approximately 3.85 and 11.28 during the observed period. It shows an increasing trend from late 2019 through to early 2022, peaking around 11.28, which suggests improving efficiency in utilizing fixed assets to generate revenue. After this peak, the ratio slightly declines but stabilizes around 10 in the most recent periods, indicating the company maintains strong asset utilization despite ongoing asset base growth.
- Overall analysis
- Overall, the data reflects a company undergoing rapid growth in both sales and physical asset investment. The revenue growth substantially outpaces the asset base increase, as evidenced by the generally high and stable net fixed asset turnover ratio. This implies effective management of assets in support of expanding revenue streams. The investment in property and equipment aligns well with the scaling operations, and the maintained turnover ratio suggests that the company avoids overinvestment or underutilization issues. The dip and recovery in revenue around mid-2020 highlight resilience, possibly overcoming external market challenges without long-term impact.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Shockwave Medical Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenueQ1 2024
+ RevenueQ4 2023
+ RevenueQ3 2023
+ RevenueQ2 2023)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= (218,805 + 202,979 + 186,020 + 180,165)
÷ 113,612 = 6.94
- Revenue Trends
- Revenue has demonstrated a consistent upward trajectory over the analyzed quarters, starting at $7.3 million in March 2019 and reaching $218.8 million by March 2024. Notably, revenue growth accelerated significantly from March 2021 onward, with quarterly figures increasing from approximately $31.9 million to over $218.8 million within three years. This indicates a robust expansion phase, with revenue roughly tripling during this period.
- Property and Equipment, Net
- The net value of property and equipment, including operating lease right-of-use assets, has increased steadily over time, rising from $5.4 million in March 2019 to $113.6 million in March 2024. There was a substantial increase recorded between December 2019 and March 2020, followed by continued gradual growth each quarter. This upward trend suggests ongoing investment in fixed assets to support the company's operational capabilities and growth.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, which measures revenue generated per dollar of fixed assets, has generally improved from 3.13 in December 2019 to peaking at 7.4 in September 2023, with a slight decline to 6.94 by March 2024. This improvement reflects enhanced efficiency in utilizing fixed assets to generate revenue, especially notable after mid-2020. The slight dip at the end of the period may warrant monitoring but does not currently indicate a substantial reversal of efficiency trends.
- Overall Interpretation
- Over the course of the data, the company exhibits strong revenue growth coupled with increasing investments in property and equipment. The rising fixed asset turnover ratio signals improved asset utilization efficiency amidst expanding operations. These patterns collectively imply effective scaling of business activities alongside prudent capital investment strategies, supporting sustained revenue increases while optimizing asset productivity.
Total Asset Turnover
Shockwave Medical Inc., total asset turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Revenue | 218,805) | 202,979) | 186,020) | 180,165) | 161,066) | 144,026) | 131,330) | 120,746) | 93,631) | 84,183) | 65,155) | 55,908) | 31,900) | 22,716) | 19,590) | 10,286) | 15,197) | 14,313) | 11,333) | 10,012) | 7,269) | |||||||
| Total assets | 1,643,747) | 1,566,563) | 1,473,959) | 786,604) | 783,247) | 646,089) | 475,809) | 417,145) | 372,520) | 345,682) | 298,995) | 276,359) | 269,070) | 272,042) | 280,658) | 287,353) | 220,738) | 231,938) | 137,889) | 146,807) | 157,539) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||
| Total asset turnover1 | 0.48 | 0.47 | 0.46 | 0.78 | 0.71 | 0.76 | 0.90 | 0.87 | 0.80 | 0.69 | 0.59 | 0.47 | 0.31 | 0.25 | 0.21 | 0.18 | 0.23 | 0.19 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 0.56 | 0.55 | 0.55 | 0.55 | 0.56 | 0.59 | 0.62 | 0.61 | 0.60 | 0.57 | 0.57 | 0.55 | 0.51 | 0.48 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 1.52 | 1.56 | 1.52 | 1.51 | 1.46 | 1.51 | 1.48 | 1.47 | 1.42 | 1.41 | 1.35 | 1.33 | 1.29 | 1.39 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 0.46 | 0.46 | 0.47 | 0.48 | 0.49 | 0.48 | 0.46 | 0.44 | 0.43 | 0.42 | 0.42 | 0.42 | 0.39 | 0.39 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 0.35 | 0.34 | 0.33 | 0.33 | 0.35 | 0.35 | 0.35 | 0.35 | 0.34 | 0.32 | 0.29 | 0.29 | 0.30 | 0.32 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 1.32 | 1.34 | 1.26 | 1.23 | 1.18 | 1.31 | 1.29 | 1.32 | 1.33 | 1.34 | 1.30 | 1.29 | 1.27 | 1.30 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Total asset turnover
= (RevenueQ1 2024
+ RevenueQ4 2023
+ RevenueQ3 2023
+ RevenueQ2 2023)
÷ Total assets
= (218,805 + 202,979 + 186,020 + 180,165)
÷ 1,643,747 = 0.48
2 Click competitor name to see calculations.
- Revenue
- The revenue shows a clear upward trend throughout the periods analyzed. Starting at approximately $7.3 million in the first quarter of 2019, revenue experienced fluctuations initially but demonstrated substantial growth from early 2021 onwards. Notably, from March 2021 to March 2024, revenue increased consistently from about $31.9 million to nearly $218.8 million. This growth trajectory suggests expanding market presence or enhanced sales performance over time.
- Total Assets
- Total assets have generally increased over the period, indicating an expanding asset base. Beginning at about $157.5 million in March 2019, assets dipped slightly through 2019 and early 2020 but then resumed growth, reaching approximately $645 million by December 2022. Following this, a significant surge occurred, with total assets nearly doubling year-over-year from December 2022 ($646 million) to March 2024 ($1.64 billion). This increase reflects substantial investment or acquisition activity and a growing scale of operations.
- Total Asset Turnover Ratio
- The total asset turnover ratio exhibits variability, with generally improving efficiency up to late 2022 and a subsequent decline. Initially absent in early data, the ratio was around 0.19 in September 2019 and improved steadily to peak values between 0.8 and 0.9 during mid to late 2022. This improvement denotes more efficient use of assets to generate revenue. However, from late 2022 into 2024, the ratio declined to approximately 0.46-0.48, indicating that despite the rise in revenue, asset growth outpaced sales generation, resulting in diminished asset utilization efficiency during this recent period.
- Overall Observations
- The company demonstrates strong revenue growth consistent with an expanding business scale. Asset accumulation accelerated markedly after 2022, possibly due to strategic investments. While asset turnover improved over several years, suggesting increased operational efficiency, the recent decline highlights a potential lag in converting increased assets into proportional revenue gains. Continued monitoring of these trends would be essential to evaluate whether the asset base growth will translate into sustained revenue increases and efficiency improvements in the future.
Equity Turnover
Shockwave Medical Inc., equity turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Revenue | 218,805) | 202,979) | 186,020) | 180,165) | 161,066) | 144,026) | 131,330) | 120,746) | 93,631) | 84,183) | 65,155) | 55,908) | 31,900) | 22,716) | 19,590) | 10,286) | 15,197) | 14,313) | 11,333) | 10,012) | 7,269) | |||||||
| Stockholders’ equity | 751,757) | 668,677) | 601,245) | 616,912) | 570,687) | 511,316) | 355,930) | 305,068) | 267,823) | 241,830) | 220,291) | 208,347) | 204,254) | 225,654) | 237,047) | 245,423) | 177,772) | 192,653) | 108,250) | 119,413) | 129,186) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||
| Equity turnover1 | 1.05 | 1.09 | 1.12 | 1.00 | 0.98 | 0.96 | 1.21 | 1.19 | 1.12 | 0.98 | 0.80 | 0.62 | 0.41 | 0.30 | 0.25 | 0.21 | 0.29 | 0.22 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 1.04 | 1.04 | 1.07 | 1.08 | 1.12 | 1.19 | 1.26 | 1.25 | 1.26 | 1.20 | 1.23 | 1.19 | 1.11 | 1.06 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 4.20 | 4.33 | 4.36 | 4.31 | 4.27 | 4.29 | 4.22 | 4.13 | 3.97 | 3.80 | 3.71 | 3.65 | 3.65 | 3.64 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 0.52 | 0.54 | 0.55 | 0.56 | 0.57 | 0.56 | 0.53 | 0.50 | 0.49 | 0.48 | 0.48 | 0.48 | 0.45 | 0.45 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 0.62 | 0.61 | 0.60 | 0.59 | 0.59 | 0.60 | 0.60 | 0.61 | 0.61 | 0.59 | 0.55 | 0.56 | 0.56 | 0.57 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 4.33 | 4.14 | 4.22 | 4.19 | 4.10 | 4.14 | 4.19 | 4.18 | 4.06 | 3.98 | 3.95 | 3.92 | 3.94 | 3.90 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Equity turnover
= (RevenueQ1 2024
+ RevenueQ4 2023
+ RevenueQ3 2023
+ RevenueQ2 2023)
÷ Stockholders’ equity
= (218,805 + 202,979 + 186,020 + 180,165)
÷ 751,757 = 1.05
2 Click competitor name to see calculations.
- Revenue Trends
- The revenue displays a consistent upward trajectory over the analyzed periods. Starting from approximately $7.3 million in March 2019, it increased with some fluctuations until the end of 2020. Notably, there was a significant increase beginning in early 2021, where revenue more than doubled from around $31.9 million in Q1 2021 to over $84.1 million in Q4 2021. This growth continued through 2022 and into early 2024, reaching approximately $218.8 million by Q1 2024. Periodic quarterly increases are observable, though the pace of growth appears steadier and more substantial from 2021 onward.
- Stockholders’ Equity Trends
- Stockholders' equity exhibited variability in earlier periods but showed a marked overall increase across the timeline. It began at roughly $129.2 million in Q1 2019 and experienced some decreases and recoveries until early 2021. From 2021 forward, there is a strong upward trend, with equity growing substantially from about $204.3 million in Q1 2021 to approximately $751.8 million by Q1 2024. The most pronounced increments occurred between 2022 and 2024, indicating strengthened financial position over time.
- Equity Turnover Ratios
- Equity turnover ratios, starting to be reported near the end of 2019, show a gradual increase over the periods. Initially low, around 0.22–0.3 in late 2019 to early 2020, the ratio climbed steadily to exceed 1.0 in 2021 and hovered around 1.0 to 1.21 from late 2021 through 2022. There was a slight dip below 1.0 in early 2023 but generally maintained a level close to or above 1.0, indicating improving efficiency in revenue generation relative to equity base over time.
- Overall Insights
- The data indicates robust growth in both revenue and stockholders’ equity, particularly accelerating from 2021 onward. Revenue growth outpaces earlier years, suggesting successful expansion or increased market penetration. The increasing equity turnover ratio aligns with enhanced operational efficiency, as the company generates more revenue per unit of equity. The simultaneous rise in equity demonstrates a strengthening capital base supporting the expanding business scale. Although some quarterly variations occur, the general trend is positive, reflecting financial growth and improved resource utilization over the analyzed period.