Atmos Energy Corporation (ATO)

Total asset turnover

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Revenue	US$ in thousands	4,165,190	4,275,360	4,201,660	3,407,490	2,821,140
Total assets	US$ in thousands	25,194,500	22,517,000	22,193,000	19,608,700	15,359,000
Total asset turnover		0.17	0.19	0.19	0.17	0.18

September 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,165,190K ÷ $25,194,500K
= 0.17

The total asset turnover of Atmos Energy Corporation has shown some fluctuations over the past five years. It decreased from 0.18 in 2020 to 0.17 in 2021, indicating a decrease in the company's ability to generate sales from its total assets. However, it improved slightly to 0.19 in both 2022 and 2023 before declining back to 0.17 in 2024.

A total asset turnover ratio of less than 1 typically suggests that the company is not efficiently utilizing its assets to generate sales. In the case of Atmos Energy Corporation, the average total asset turnover ratio over the past five years is around 0.18, indicating that, on average, the company generates $0.18 in sales for every $1 of total assets.

Further analysis would be needed to understand the reasons behind the fluctuations in total asset turnover and whether there are any underlying issues impacting the company's asset efficiency and sales generation capabilities.