Atmos Energy Corporation (ATO)

Total asset turnover

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Revenue	US$ in thousands	4,275,360	4,201,660	3,407,490	2,821,140	2,901,850
Total assets	US$ in thousands	22,517,000	22,193,000	19,608,700	15,359,000	13,367,600
Total asset turnover		0.19	0.19	0.17	0.18	0.22

September 30, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,275,360K ÷ $22,517,000K
= 0.19

The total asset turnover ratio of Atmos Energy Corp. has been relatively stable over the past five years, with values ranging from 0.17 to 0.22. This ratio indicates that, on average, the company generates $0.19 of revenue for every $1 of total assets. A lower total asset turnover ratio suggests that the company may be less efficient in utilizing its assets to generate sales. It would be important to consider the industry average and compare with peer companies to gain further insights into the company's asset utilization efficiency.