Allegheny Technologies Incorporated (ATI)
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 | 4,174,000 | 4,019,000 | 4,025,400 | 3,938,900 | 3,710,300 | 3,397,000 | 3,104,400 | 2,761,100 | 2,645,000 | 2,707,600 | 2,566,200 | 2,698,800 | 2,963,100 | 3,301,800 | 3,790,600 | 4,143,700 | 4,190,500 | 4,231,400 | 4,164,800 | 4,072,400 |
| Total assets | US$ in thousands | 4,985,100 | 4,731,100 | 4,434,700 | 4,287,300 | 4,445,600 | 4,287,800 | 4,229,400 | 4,236,100 | 4,285,200 | 4,626,500 | 3,974,000 | 4,068,500 | 4,034,900 | 5,063,900 | 5,169,400 | 5,807,100 | 5,634,600 | 5,628,900 | 5,549,300 | 5,491,000 |
| Total asset turnover | 0.84 | 0.85 | 0.91 | 0.92 | 0.83 | 0.79 | 0.73 | 0.65 | 0.62 | 0.59 | 0.65 | 0.66 | 0.73 | 0.65 | 0.73 | 0.71 | 0.74 | 0.75 | 0.75 | 0.74 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,174,000K ÷ $4,985,100K
= 0.84
ATI Inc's total asset turnover has shown some fluctuations over the past eight quarters. Total asset turnover is a measure of how efficiently a company is using its assets to generate revenue. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets.
In Q1 2022, ATI Inc had a total asset turnover ratio of 0.69, indicating that the company generated $0.69 in revenue for each dollar of assets. The ratio increased steadily over the next few quarters, reaching a peak of 0.94 in Q1 2023. This improvement suggests that ATI Inc became more efficient in utilizing its assets to generate revenue during this period.
However, there was a slight decrease in total asset turnover in Q2 and Q3 2023, with ratios of 0.93 and 0.87, respectively. This could be an indication of a temporary slowdown in revenue generation relative to the growth in assets during these quarters.
Overall, ATI Inc's total asset turnover has shown mixed performance, with periods of improvement and slight declines. It is important for the company to continue monitoring this ratio to ensure efficient utilization of its assets in generating revenue.