Total Asset Turnover
since 2019
Calculation
Shockwave Medical Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.47 | = | 730,230) | ÷ | 1,566,563) |
| Dec 31, 2022 | 0.76 | = | 489,733) | ÷ | 646,089) |
| Dec 31, 2021 | 0.69 | = | 237,146) | ÷ | 345,682) |
| Dec 31, 2020 | 0.25 | = | 67,789) | ÷ | 272,042) |
| Dec 31, 2019 | 0.19 | = | 42,927) | ÷ | 231,938) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 US$ in thousands
The financial data depicts notable growth patterns and variations across the analyzed years.
- Revenue
- Revenue increased substantially over the observed period, starting at $42.9 million in 2019 and rising to $730.2 million by 2023. This growth reflects accelerated business expansion, particularly marked from 2020 onwards, with nearly a threefold increase from 2020 to 2021 and continued significant gains thereafter.
- Total Assets
- Total assets demonstrated a consistent upward trend each year, increasing from approximately $232 million in 2019 to $1.57 billion in 2023. Asset accumulation was notably aggressive between 2021 and 2023, more than quadrupling the asset base over these three years, indicating substantial investment and scaling efforts.
- Total Asset Turnover
- The total asset turnover ratio, which reflects efficiency in utilizing assets to generate revenue, showed fluctuations. It improved from 0.19 in 2019 to a peak of 0.76 in 2022, suggesting increasing operational efficiency and better use of assets. However, in 2023, the ratio declined to 0.47, indicating a decrease in asset utilization efficiency despite growing revenues and asset base.
In summary, the company exhibited strong revenue growth driven by expanding assets and investments. The improvement in asset turnover until 2022 signaled enhanced efficiency, yet the subsequent decline in 2023 points to potential challenges in asset utilization or a strategic increase in asset base that has not yet translated proportionately into revenue.
Comparison to Competitors
Shockwave Medical Inc., total asset turnover, long-term trends, comparison to competitors
| Shockwave Medical Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2023 | 0.47 | 0.55 | 1.56 | 0.46 | 0.34 | 1.34 |
| Dec 31, 2022 | 0.76 | 0.59 | 1.51 | 0.48 | 0.35 | 1.31 |
| Dec 31, 2021 | 0.69 | 0.57 | 1.41 | 0.42 | 0.32 | 1.34 |
| Dec 31, 2020 | 0.25 | 0.48 | 1.39 | 0.39 | 0.32 | 1.30 |
| Dec 31, 2019 | 0.19 | 0.47 | 1.33 | 0.46 | 0.34 | 1.38 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Sector (Health Care Equipment & Services)
Shockwave Medical Inc., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| Shockwave Medical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2023 | 0.47 | 1.10 |
| Dec 31, 2022 | 0.76 | 1.06 |
| Dec 31, 2021 | 0.69 | 1.02 |
| Dec 31, 2020 | 0.25 | 0.97 |
| Dec 31, 2019 | 0.19 | 0.98 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Industry (Health Care)
Shockwave Medical Inc., total asset turnover, long-term trends, comparison to industry (health care)
| Shockwave Medical Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | 0.47 | 0.63 |
| Dec 31, 2022 | 0.76 | 0.66 |
| Dec 31, 2021 | 0.69 | 0.62 |
| Dec 31, 2020 | 0.25 | 0.57 |
| Dec 31, 2019 | 0.19 | 0.57 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).