AdvanSix Inc (ASIX)
Total asset turnover
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,525,604 | 1,550,528 | 1,707,779 | 1,864,760 | 1,943,802 | 1,963,180 | 1,930,418 | 1,783,754 | 1,680,358 | 1,596,651 | 1,431,259 | 1,226,091 | 1,153,999 | 1,140,377 | 1,171,063 | 1,285,126 | 1,296,943 | 1,356,927 | 1,414,965 | 1,470,226 |
| Total assets | US$ in thousands | 1,496,020 | 1,476,450 | 1,467,010 | 1,448,820 | 1,495,330 | 1,455,530 | 1,483,260 | 1,457,120 | 1,312,000 | 1,290,360 | 1,245,320 | 1,242,780 | 1,263,410 | 1,235,130 | 1,286,000 | 1,263,310 | 1,235,970 | 1,211,820 | 1,162,890 | 1,123,770 |
| Total asset turnover | 1.02 | 1.05 | 1.16 | 1.29 | 1.30 | 1.35 | 1.30 | 1.22 | 1.28 | 1.24 | 1.15 | 0.99 | 0.91 | 0.92 | 0.91 | 1.02 | 1.05 | 1.12 | 1.22 | 1.31 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,525,604K ÷ $1,496,020K
= 1.02
The total asset turnover ratio for AdvanSix Inc has been relatively stable over the past eight quarters, ranging from 1.03 to 1.35. The ratio measures the efficiency of the company in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets, which is generally seen as positive.
In the most recent quarter, Q4 2023, the total asset turnover ratio was 1.03, which indicates that the company generated $1.03 in sales for every dollar of total assets. This was lower compared to the previous quarter, Q3 2023, when the ratio was 1.05.
Overall, the trend in total asset turnover suggests that AdvanSix Inc has been effectively utilizing its assets to generate revenue, although there has been some fluctuation in the ratio over the past two years. Further analysis of the company's financial performance and operational efficiency may provide additional insights into the factors influencing the total asset turnover ratio.
Peer comparison
Dec 31, 2023