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.