Adtalem Global Education Inc (ATGE)

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	1,584,652	1,539,386	1,495,810	1,465,402	1,450,826	1,447,416	1,442,615	1,450,979	1,385,780	1,248,015	1,113,947	977,145	906,901	943,164	984,438	1,016,214	1,052,001	1,056,512	1,043,728	1,031,517
Total assets	US$ in thousands	2,741,420	2,715,030	2,700,920	2,794,160	2,810,540	2,867,120	2,843,040	2,996,050	3,030,240	3,519,920	3,659,770	3,799,060	3,084,840	3,061,780	2,274,880	2,329,900	2,258,060	2,444,020	2,390,610	2,460,320
Total asset turnover		0.58	0.57	0.55	0.52	0.52	0.50	0.51	0.48	0.46	0.35	0.30	0.26	0.29	0.31	0.43	0.44	0.47	0.43	0.44	0.42

June 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,584,652K ÷ $2,741,420K
= 0.58

Adtalem Global Education Inc's total asset turnover ratio has shown a fluctuating trend over the past few quarters. The ratio has ranged from a low of 0.26 in the first quarter of 2022 to a high of 0.58 in the second quarter of 2024. Generally, a higher total asset turnover ratio indicates that the company is generating more revenue for each dollar of assets it owns.

The improvement in the total asset turnover ratio from 0.30 in the fourth quarter of 2021 to 0.58 in the second quarter of 2024 could indicate that Adtalem Global Education Inc has become more efficient in utilizing its assets to generate revenue. This increase suggests that the company is able to generate more sales relative to its total assets, which could be a positive sign of operational efficiency.

However, it is important to note that the ratio has fluctuated over the quarters, indicating potential variability in the company's asset utilization and revenue generation efficiency. It would be beneficial for investors and analysts to further investigate the factors driving these fluctuations to better understand the company's operational performance and potential future prospects.