Applied Industrial Technologies (AIT)
Total asset turnover
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,477,680 | 4,468,470 | 4,448,790 | 4,426,120 | 4,387,880 | 4,290,680 | 4,139,067 | 3,955,317 | 3,784,475 | 3,617,133 | 3,476,550 | 3,348,724 | 3,203,604 | 3,031,543 | 3,023,222 | 3,104,634 | 3,211,463 | 3,367,816 | 3,417,756 | 3,424,973 |
| Total assets | US$ in thousands | 2,951,910 | 2,854,940 | 2,782,760 | 2,750,510 | 2,743,330 | 2,608,640 | 2,522,900 | 2,474,170 | 2,452,590 | 2,383,570 | 2,225,710 | 2,303,180 | 2,271,810 | 2,305,390 | 2,241,020 | 2,249,250 | 2,283,550 | 2,289,530 | 2,419,000 | 2,429,730 |
| Total asset turnover | 1.52 | 1.57 | 1.60 | 1.61 | 1.60 | 1.64 | 1.64 | 1.60 | 1.54 | 1.52 | 1.56 | 1.45 | 1.41 | 1.31 | 1.35 | 1.38 | 1.41 | 1.47 | 1.41 | 1.41 |
June 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,477,680K ÷ $2,951,910K
= 1.52
The total asset turnover ratio for Applied Industrial Technologies has shown some fluctuations over the past few quarters, ranging from 1.31 to 1.64. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher total asset turnover ratio suggests that the company is generating more sales per dollar of assets.
The trend in the total asset turnover ratio for Applied Industrial Technologies has been generally positive, with some variability quarter to quarter. Although there have been minor fluctuations, the company has managed to maintain a healthy level of asset turnover, indicating effective management of its assets to drive revenue.
Overall, the trend in the total asset turnover ratio for Applied Industrial Technologies suggests that the company has been effectively utilizing its assets to generate revenue, and has demonstrated a satisfactory level of efficiency in its operations.