Albany International Corporation (AIN)

Total asset turnover

		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
Revenue (ttm)	US$ in thousands	1,127,205	1,085,916	1,071,101	1,052,195	1,027,602	996,333	962,423	937,136	913,292	900,890	882,355	873,190	889,853	925,016	986,423	1,038,464	1,054,073	1,047,973	1,028,773	1,010,273
Total assets	US$ in thousands	1,835,010	1,790,250	1,707,150	1,695,760	1,642,260	1,571,850	1,613,060	1,580,060	1,556,060	1,540,240	1,526,640	1,512,170	1,549,940	1,490,690	1,461,960	1,483,630	1,474,370	1,404,720	1,458,100	1,443,280
Total asset turnover		0.61	0.61	0.63	0.62	0.63	0.63	0.60	0.59	0.59	0.58	0.58	0.58	0.57	0.62	0.67	0.70	0.71	0.75	0.71	0.70

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,127,205K ÷ $1,835,010K
= 0.61

Albany International Corp.'s total asset turnover has exhibited relatively consistent performance over the eight quarters provided. The ratio has ranged from 0.60 to 0.64, with a quarterly average of 0.62. This indicates that, on average, the company generates $0.62 in revenue for every dollar of assets it holds.

The stability of the total asset turnover suggests that Albany International Corp. has been largely efficient in utilizing its assets to generate sales revenue. However, a lower total asset turnover compared to industry peers may indicate that the company could potentially improve its asset utilization efficiency to boost revenue generation further.

Further analysis, including comparing this ratio to industry benchmarks and trend analysis over a more extended period, would provide greater insights into Albany International Corp.'s efficiency in utilizing its assets to drive sales.