AAR Corp (AIR)
Total 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 |
| Total assets | US$ in thousands | 2,844,600 | 2,859,100 | 2,849,300 | 2,783,300 | 2,770,000 | 2,021,800 | 1,965,600 | 1,954,400 | 1,833,100 | 1,673,300 | 1,646,900 | 1,598,900 | 1,573,900 | 1,552,000 | 1,529,600 | 1,535,700 | 1,539,700 | 1,642,800 | 1,669,300 | 1,713,800 |
| Total asset turnover | 0.98 | 0.94 | 0.90 | 0.87 | 0.84 | 1.10 | 1.10 | 1.07 | 1.09 | 1.14 | 1.12 | 1.13 | 1.16 | 1.15 | 1.14 | 1.11 | 1.07 | 0.99 | 1.06 | 1.13 |
May 31, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,780,500K ÷ $2,844,600K
= 0.98
The total asset turnover ratio for AAR Corp has exhibited notable fluctuations over the specified periods, reflecting variations in the company's efficiency in utilizing its assets to generate sales. Starting from a high of approximately 1.13 as of August 31, 2020, the ratio declined to a low of around 0.84 by May 31, 2024. This downward trend signifies a reduction in asset efficiency, possibly indicating challenges in generating sales relative to asset base during this period.
Between August 31, 2020, and February 28, 2021, the ratio decreased from 1.13 to 0.99, suggesting diminishing asset utilization efficiency early in the period. Subsequently, the ratio experienced a gradual recovery, reaching a peak of approximately 1.16 on May 31, 2022, indicating improved efficiency in asset utilization during that timeframe. However, from that peak onward, a consistent decline is observable, culminating in the lowest reading of 0.84 in May 2024.
In the more recent periods, the ratio shows partial recovery, with figures such as approximately 0.87 on August 31, 2024, and around 0.90 on November 30, 2024. Despite this, the ratio remains significantly below the earlier levels observed in 2020–2022.
Overall, the trend indicates periods of operational efficiency fluctuations, with a general decline in asset turnover ratio from mid-2022 through mid-2024, before showing signs of slight recovery. This pattern suggests that AAR Corp’s ability to generate sales from its assets has decreased over time, which could be attributable to factors such as changes in sales volume, asset base adjustments, or operational efficiency challenges.
Peer comparison
May 31, 2025