Applied Industrial Technologies (AIT)
Fixed asset turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,563,420 | 4,499,370 | 4,479,010 | 4,483,160 | 4,479,410 | 4,476,800 | 4,462,450 | 4,445,580 | 4,412,790 | 4,316,180 | 4,164,802 | 3,981,396 | 3,810,677 | 3,645,105 | 3,505,380 | 3,379,793 | 3,235,919 | 3,065,107 | 3,054,967 | 3,137,055 |
| Property, plant and equipment | US$ in thousands | — | 318,138 | 320,654 | 264,104 | — | — | — | 215,848 | 215,718 | 115,383 | 112,790 | 213,576 | 219,948 | 111,166 | 112,113 | 208,289 | 202,700 | 116,951 | 120,530 | 120,285 |
| Fixed asset turnover | — | 14.14 | 13.97 | 16.97 | — | — | — | 20.60 | 20.46 | 37.41 | 36.93 | 18.64 | 17.33 | 32.79 | 31.27 | 16.23 | 15.96 | 26.21 | 25.35 | 26.08 |
June 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,563,420K ÷ $—K
= —
The fixed asset turnover ratio for Applied Industrial Technologies exhibits notable fluctuations over the observed periods, reflecting variability in the company's efficiency in utilizing its fixed assets to generate sales.
From September 30, 2020, to December 31, 2021, the ratio remains relatively stable, with values oscillating within a narrow range—26.08, 25.35, 26.21, and 31.27—indicating consistent efficiency levels in deploying fixed assets to support sales activities. This stability suggests steady operational performance during this period.
However, a significant decline is observed beginning in June 2021, where the ratio drops sharply to 15.96 from prior higher levels, indicating a decrease in asset utilization efficiency. The ratio slightly increases in subsequent quarters, reaching 16.23 in September 2021 and then rising markedly to 31.27 in December 2021, possibly signifying an improvement in asset usage.
The upward trend continues into 2022, with ratios of 32.79 in March, then moderating to 17.33 in June, followed by an increase to 18.64 in September, and peaking at 36.93 in December. This pattern suggests periods of enhanced efficiency interspersed with adjustments, potentially driven by fluctuations in operational scale or asset base management.
In 2023, the ratio remains relatively high, with 37.41 in March before declining to 20.46 in June and slightly rising again to 20.60 in September, indicating a partial decline in asset utilization efficiency relative to previous peaks. The ratios in early 2024 continue to decrease, with 16.97 in September and further down to approximately 14-15 in subsequent quarters, pointing toward a period of diminished efficiency in leveraging fixed assets for sales generation.
The data for December 2024 and beyond are unavailable or inconsistent, precluding further comprehensive analysis. Overall, the fixed asset turnover ratio evidences periods of high efficiency punctuated by declines, reflecting possible changes in asset utilization, sales strategies, or operational scale over time.