AAR Corp (AIR)
Fixed asset turnover
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,780,500 | 2,682,500 | 2,571,600 | 2,430,900 | 2,318,900 | 2,215,700 | 2,169,500 | 2,093,900 | 1,990,500 | 1,913,300 | 1,844,400 | 1,811,200 | 1,820,000 | 1,781,500 | 1,739,600 | 1,706,600 | 1,652,300 | 1,631,200 | 1,774,000 | 1,931,300 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 223,000 | 375,100 | 126,100 | 119,800 | 113,900 | 181,300 | 109,600 | 180,100 | 106,200 | 182,700 | 195,800 | 200,500 | 125,000 | 212,800 |
| Fixed asset turnover | — | — | — | — | — | — | 9.73 | 5.58 | 15.79 | 15.97 | 16.19 | 9.99 | 16.61 | 9.89 | 16.38 | 9.34 | 8.44 | 8.14 | 14.19 | 9.08 |
May 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,780,500K ÷ $—K
= —
The fixed asset turnover ratio for AAR Corp exhibits notable fluctuations over the analyzed period. From August 31, 2020, through November 30, 2021, the ratio increased significantly, rising from 9.08 to a peak of 16.38. This upward trend suggests an improvement in asset utilization, indicating that the company was generating increasingly higher sales relative to its fixed assets during this period.
Subsequently, from November 30, 2021, onward, the ratio experienced a decline, decreasing from 16.38 to 5.58 by August 31, 2023. This sharp decrease signals a reduction in asset efficiency, potentially due to factors such as asset devaluation, increased fixed asset base with lower contribution to sales, or operational changes impacting asset utilization.
The period between August 31, 2023, and November 30, 2023, marks a recovery, with the ratio rising from 5.58 to 9.73, indicating a partial improvement in asset productivity. The absence of data beyond November 2023 precludes further analysis of recent trends.
Overall, the data reflects a dynamic pattern in AAR Corp's fixed asset efficiency, characterized by strong growth and peak performance near late 2021, followed by a notable decline and a modest rebound in late 2023. These fluctuations underscore changes in operational efficiency, asset management strategies, or shifts in business activity levels over the period analyzed.
Peer comparison
May 31, 2025