ABM Industries Incorporated (ABM)
Total asset turnover
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 8,090,900 | 8,014,100 | 7,936,900 | 7,879,900 | 7,807,000 | 7,765,500 | 7,459,900 | 7,046,400 | 6,646,000 | 6,199,900 | 5,994,900 | 5,838,400 | 5,834,300 | 5,953,100 | 6,116,500 | 6,371,200 | 6,467,600 | 6,459,300 | 6,460,100 | 6,530,000 |
| Total assets | US$ in thousands | 4,955,400 | 4,933,700 | 4,970,000 | 4,932,900 | 4,918,000 | 4,868,900 | 4,607,600 | 4,586,300 | 4,504,900 | 4,436,200 | 3,897,400 | 3,792,000 | 3,782,200 | 3,776,900 | 3,668,300 | 4,079,200 | 3,847,100 | 3,692,600 | 3,744,000 | 3,729,900 |
| Total asset turnover | 1.63 | 1.62 | 1.60 | 1.60 | 1.59 | 1.59 | 1.62 | 1.54 | 1.48 | 1.40 | 1.54 | 1.54 | 1.54 | 1.58 | 1.67 | 1.56 | 1.68 | 1.75 | 1.73 | 1.75 |
January 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,090,900K ÷ $4,955,400K
= 1.63
The total asset turnover ratio for ABM Industries Inc. has been relatively stable over the past few quarters, ranging between 1.54 and 1.65. This ratio measures the company's ability to generate revenue in relation to its total assets. A higher total asset turnover ratio indicates that the company is able to generate more sales for each dollar of assets it owns.
In Q1 2024, ABM Industries Inc. had a total asset turnover of 1.65, which suggests that the company generated $1.65 in revenue for every dollar of assets it had during that period. This indicates efficient utilization of assets to generate sales.
Overall, the trend of total asset turnover for ABM Industries Inc. has been quite stable, reflecting the company's consistent ability to generate revenue in relation to its asset base. However, it would be beneficial to compare this ratio with industry peers to gain a better understanding of the company's performance relative to its competitors.
Peer comparison
Jan 31, 2024