Azenta Inc (AZTA)
Total asset turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 651,150 | 662,379 | 657,005 | 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 |
| Total assets | US$ in thousands | 2,100,040 | 2,323,300 | 2,563,500 | 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 |
| Total asset turnover | 0.31 | 0.29 | 0.26 | 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 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $651,150K ÷ $2,100,040K
= 0.31
The total asset turnover ratio for Azenta Inc has demonstrated fluctuations over the past few years. The ratio stood at 0.31 as of September 30, 2024, indicating that the company generated $0.31 in revenue for every dollar of assets during that period. This figure has shown a decreasing trend from the ratio of 0.76 in December 2019.
The declining trend in total asset turnover may suggest inefficiencies in asset utilization or decreasing sales relative to the size of the asset base. This could be a cause for concern as it indicates that the company may not be effectively leveraging its assets to generate sales.
Further analysis of the company’s operations, asset management, and sales strategies would be necessary to determine the underlying reasons for the decreasing total asset turnover and to formulate appropriate recommendations for improvement.
Peer comparison
Sep 30, 2024