Altair Engineering Inc (ALTR)

Total asset turnover

		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	Jun 30, 2019
Revenue (ttm)	US$ in thousands	612,557	608,222	600,592	585,021	571,392	563,439	536,037	540,111	530,033	519,011	510,152	496,321	475,198	458,323	456,770	449,723	461,129	459,602	446,656	443,361
Total assets	US$ in thousands	1,379,910	1,363,490	1,251,990	1,255,810	1,226,170	1,204,740	1,124,930	1,128,510	1,133,690	1,163,280	1,014,480	820,216	817,913	829,902	779,703	736,846	734,654	743,145	716,700	729,720
Total asset turnover		0.44	0.45	0.48	0.47	0.47	0.47	0.48	0.48	0.47	0.45	0.50	0.61	0.58	0.55	0.59	0.61	0.63	0.62	0.62	0.61

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $612,557K ÷ $1,379,910K
= 0.44

Altair Engineering Inc's total asset turnover ratio has displayed some fluctuations over the past several quarters. As of March 31, 2024, the total asset turnover ratio stands at 0.44, indicating that the company generated $0.44 in sales for every dollar of assets it owns. This ratio has shown a slight decline from the previous quarter's ratio of 0.45.

Looking further back, the total asset turnover ratio has ranged between 0.45 to 0.50 in recent quarters, showing a consistent performance in efficiently utilizing its assets to generate sales. However, there was a notable spike in the ratio to 0.61 in the third quarter of 2021, followed by a decline in the subsequent quarters.

Overall, Altair Engineering Inc's total asset turnover ratio showcases a trend of maintaining a reasonable level of efficiency in utilizing its assets to generate revenue. It is essential for the company to continue monitoring and managing its asset turnover ratio to ensure optimal utilization of resources and sustained operational efficiency.