AZZ Incorporated (AZZ)
Total asset turnover
| Feb 29, 2024 | Feb 28, 2023 | Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,537,590 | 1,323,650 | 525,598 | 480,574 | 1,061,820 |
| Total assets | US$ in thousands | 2,195,500 | 2,221,480 | 1,133,030 | 999,227 | 1,073,830 |
| Total asset turnover | 0.70 | 0.60 | 0.46 | 0.48 | 0.99 |
February 29, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,537,590K ÷ $2,195,500K
= 0.70
AZZ Incorporated's total asset turnover, a key financial ratio that measures the efficiency of the company in generating sales revenue from its total assets, has fluctuated over the past five years.
In the most recent fiscal year ending February 29, 2024, the total asset turnover ratio stood at 0.70, which indicates that for every dollar of total assets, the company generated $0.70 in sales revenue. This reflects an improvement from the previous year, where the ratio was 0.60.
Looking further back, the total asset turnover ratio for AZZ Incorporated was 0.46 in February 28, 2022 and 0.48 in February 28, 2021, showing a lower efficiency in utilizing its assets to generate sales during those periods.
Interestingly, in February 29, 2020, the total asset turnover ratio spiked to 0.99, indicating that the company was particularly efficient in generating sales revenue from its total assets in that fiscal year.
Overall, the trend in total asset turnover for AZZ Incorporated shows fluctuations over the past five years, with varying levels of efficiency in utilizing its assets to generate sales revenue. A higher total asset turnover ratio generally signifies better asset utilization and efficiency in generating sales from the company's total asset base.
Peer comparison
Feb 29, 2024