Azenta Inc (AZTA)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 650,019 | 667,215 | 2,683,250 | 501,137 | 887,939 |
| Total assets | US$ in thousands | 2,100,040 | 2,885,720 | 3,716,120 | 1,819,510 | 1,559,260 |
| Total asset turnover | 0.31 | 0.23 | 0.72 | 0.28 | 0.57 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $650,019K ÷ $2,100,040K
= 0.31
Total asset turnover is a financial ratio that measures a company's ability to generate sales revenue from its assets. In the case of Azenta Inc, the trend in total asset turnover over the past five years shows fluctuation.
In 2024, the total asset turnover ratio increased to 0.31 from 0.23 in 2023, indicating that the company generated $0.31 in sales for every dollar of assets. This could suggest an improvement in the efficiency of asset utilization or an increase in sales relative to the size of the asset base.
The total asset turnover ratio was at its highest in 2022 at 0.72, which may imply that the company was able to generate more sales from its assets during that period compared to the other years. This could be a sign of strong asset management and effective utilization of resources.
In contrast, the total asset turnover ratio decreased to 0.28 in 2021 and further dropped to 0.57 in 2020. These lower ratios suggest that Azenta Inc may have faced challenges in generating sufficient sales from its assets during those years, indicating potential inefficiencies in asset utilization or lower sales performance relative to the asset base.
Overall, the fluctuating trend in total asset turnover for Azenta Inc indicates varying levels of efficiency in generating sales from the company's asset base over the past five years. Further analysis and comparison with industry benchmarks may provide additional insights into the company's operational performance and asset management practices.
Peer comparison
Sep 30, 2024