AeroVironment Inc (AVAV)
Total asset turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Jan 27, 2024 | Oct 31, 2023 | Oct 28, 2023 | Jul 31, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 31, 2023 | Jan 28, 2023 | Oct 31, 2022 | Oct 29, 2022 | Jul 31, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 787,811 | 742,556 | 761,498 | 759,618 | 750,951 | 734,788 | 700,557 | 665,864 | 671,089 | 624,668 | 606,716 | 566,415 | 491,958 | 466,079 | 439,548 | 460,586 | 439,095 | 430,215 | 444,359 | 444,087 |
| Total assets | US$ in thousands | 1,120,570 | 1,048,140 | 1,019,080 | 999,169 | 1,060,840 | 980,299 | 980,299 | 1,006,700 | 1,006,700 | 826,060 | 826,060 | 824,577 | 921,202 | 921,202 | 891,682 | 891,682 | 896,654 | 896,654 | 914,200 | 905,263 |
| Total asset turnover | 0.70 | 0.71 | 0.75 | 0.76 | 0.71 | 0.75 | 0.71 | 0.66 | 0.67 | 0.76 | 0.73 | 0.69 | 0.53 | 0.51 | 0.49 | 0.52 | 0.49 | 0.48 | 0.49 | 0.49 |
April 30, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $787,811K ÷ $1,120,570K
= 0.70
The total asset turnover ratio of AeroVironment Inc. exhibits a noticeable upward trend from January 2022 through April 2025, demonstrating evolving operational efficiency over the analyzed period. Initially, the ratio remains relatively stable in the range of approximately 0.48 to 0.52 between January 2022 and October 2022, indicating that the company generated roughly half a dollar of revenue per dollar of assets during this period. A modest increase begins in early 2023, with ratios reaching around 0.51 to 0.53 in January 2023, reflecting slight improvements in asset utilization.
From mid-2023 onward, the ratio maintains a more pronounced upward momentum; notable peaks are observed with ratios of approximately 0.73 in July 2023 and 0.76 in October 2023, suggesting enhanced efficiency in asset deployment to generate sales. This improvement indicates potentially better operational management, strategic asset utilization, or portfolio restructuring aimed at optimizing revenue generation.
Post-October 2023, the ratio stabilizes around 0.75 to 0.76, maintaining its high level into early 2024, implying sustained operational efficiency. Slight fluctuations occur thereafter, with ratios slightly decreasing to about 0.70 to 0.71 in mid-2024, before returning to levels near 0.75 by the end of the observed period in October 2024 and into early 2025.
Overall, the trend of increasing total asset turnover over this period reflects a trend toward more efficient utilization of assets to generate revenue. The significant improvement in ratios from early 2023 onwards may correspond to strategic operational enhancements, product line focus, or asset management initiatives. The stability of the ratio at higher levels in later periods suggests that the company has achieved a more effective asset utilization strategy, sustaining higher revenue output relative to its asset base.
Peer comparison
Apr 30, 2025