Avnet Inc (AVT)
Total asset turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 23,757,100 | 26,536,900 | 24,310,700 | 19,534,700 | 17,634,300 |
| Total assets | US$ in thousands | 12,209,100 | 12,477,200 | 10,388,500 | 8,925,400 | 8,105,200 |
| Total asset turnover | 1.95 | 2.13 | 2.34 | 2.19 | 2.18 |
June 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $23,757,100K ÷ $12,209,100K
= 1.95
The total asset turnover of Avnet Inc has shown some fluctuations over the past five years. The ratio measures the efficiency with which the company generates revenue from its total assets.
In 2020 and 2021, the total asset turnover was relatively consistent at around 2.18 and 2.19 respectively, indicating that for each dollar of assets, the company generated approximately $2.18 to $2.19 in revenue.
In 2022, there was a significant increase in total asset turnover to 2.34, suggesting that the company became more efficient in utilizing its assets to generate revenue. However, this was followed by a decrease in 2023 to 2.13.
In the most recent year, 2024, the total asset turnover further decreased to 1.95, indicating that the company may not have been as effective in generating revenue from its assets compared to the previous years.
Overall, it is important for Avnet Inc to monitor and manage its total asset turnover to ensure efficient utilization of its assets and maximize revenue generation.
Peer comparison
Jun 30, 2024