Azenta Inc (AZTA)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 645,780 | 669,996 | 633,011 | 598,573 | 594,894 | 554,493 | 549,230 | 729,759 | 867,038 | 977,448 | 948,755 | 854,265 | 795,637 | 753,076 | 1,246,466 | 1,227,754 | 1,182,711 | 1,154,490 | 562,470 | 564,435 |
| Total assets | US$ in thousands | 2,824,310 | 2,885,720 | 3,069,420 | 3,249,810 | 3,292,420 | 3,716,120 | 3,722,720 | 4,159,050 | 1,854,940 | 1,819,510 | 1,763,260 | 1,664,100 | 1,614,730 | 1,559,260 | 1,503,920 | 1,479,330 | 1,558,960 | 1,516,000 | 1,492,860 | 1,487,880 |
| Total asset turnover | 0.23 | 0.23 | 0.21 | 0.18 | 0.18 | 0.15 | 0.15 | 0.18 | 0.47 | 0.54 | 0.54 | 0.51 | 0.49 | 0.48 | 0.83 | 0.83 | 0.76 | 0.76 | 0.38 | 0.38 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $645,780K ÷ $2,824,310K
= 0.23
The total asset turnover of Azenta Inc has shown some fluctuation over the past quarters. In Q1 2024 and Q4 2023, the company maintained a consistent total asset turnover ratio of 0.23. Prior to that, in Q3 2023, the ratio slightly decreased to 0.21, followed by a further decline to 0.18 in both Q2 and Q1 2023.
There was a significant improvement in asset utilization in Q4 2022, where the total asset turnover ratio increased to 0.15 compared to the much lower ratios in the preceding quarters. However, the ratio dropped to 0.02 in Q3 2022 before recovering slightly to 0.06 in Q2 2022.
Overall, the total asset turnover ratio indicates how efficiently Azenta Inc is generating revenue from its total assets. The trend of the ratio suggests that the company has experienced periods of both improved and deteriorating asset utilization over the analyzed period. Further analysis and comparison with industry benchmarks may provide deeper insights into the company's operational efficiency and potential areas for improvement.
Peer comparison
Dec 31, 2023