Astec Industries Inc (ASTE)
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 | 1,332,400 | 1,346,100 | 1,360,800 | 1,330,300 | 1,271,800 | 1,189,500 | 1,141,500 | 1,101,900 | 1,095,400 | 1,068,200 | 1,032,508 | 1,019,687 | 1,024,892 | 1,069,192 | 1,093,524 | 1,132,663 | 1,168,039 | 1,201,647 | 1,202,450 | 1,170,492 |
| Total assets | US$ in thousands | 1,059,300 | 1,074,400 | 1,010,400 | 1,008,400 | 1,014,400 | 944,600 | 949,900 | 943,400 | 905,800 | 910,700 | 902,300 | 868,300 | 846,700 | 819,655 | 793,838 | 804,920 | 800,500 | 815,669 | 848,555 | 872,305 |
| Total asset turnover | 1.26 | 1.25 | 1.35 | 1.32 | 1.25 | 1.26 | 1.20 | 1.17 | 1.21 | 1.17 | 1.14 | 1.17 | 1.21 | 1.30 | 1.38 | 1.41 | 1.46 | 1.47 | 1.42 | 1.34 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,332,400K ÷ $1,059,300K
= 1.26
Astec Industries Inc.'s total asset turnover has shown consistency in the range of 1.17 to 1.35 over the past eight quarters, with Q2 2023 recording the highest ratio of 1.35. This indicates that the company generates, on average, between $1.17 to $1.35 in revenue for every dollar invested in assets. The stable and relatively high total asset turnover ratios suggest that Astec Industries Inc. efficiently utilizes its assets to generate sales, reflecting strong asset management and operational efficiency. Overall, the company appears to be effectively utilizing its assets to drive revenue growth consistently over the quarters analyzed.
Peer comparison
Dec 31, 2023