AZZ Incorporated (AZZ)
Total asset turnover
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,708,610 | 1,507,524 | 1,499,220 | 1,507,388 | 1,323,649 | 1,117,011 | 878,793 | 603,517 | 626,209 | 673,372 | 764,912 | 836,850 | 820,317 | 888,653 | 953,169 | 985,987 | 1,061,817 | 1,019,000 | 967,377 | 953,974 |
| Total assets | US$ in thousands | 2,195,500 | 2,208,760 | 2,214,560 | 2,205,980 | 2,221,480 | 2,199,470 | 2,584,750 | 2,782,290 | 1,133,030 | 1,037,580 | 1,023,240 | 1,039,240 | 999,227 | 1,009,870 | 999,952 | 1,050,770 | 1,073,830 | 1,172,570 | 1,120,120 | 1,135,680 |
| Total asset turnover | 1.23 | 0.68 | 0.68 | 0.68 | 0.60 | 0.51 | 0.34 | 0.22 | 0.55 | 0.65 | 0.75 | 0.81 | 0.82 | 0.88 | 0.95 | 0.94 | 0.99 | 0.87 | 0.86 | 0.84 |
February 29, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,708,610K ÷ $2,195,500K
= 1.23
AZZ Incorporated's total asset turnover ratio has exhibited fluctuations over the past several periods. The ratio indicates how efficiently the company is generating sales revenue relative to its total assets. A higher total asset turnover ratio is generally preferred as it suggests that the company is utilizing its assets effectively to generate revenue.
From February 29, 2024, to August 31, 2022, there is a noticeable increasing trend in the total asset turnover ratio. This indicates an improvement in the company's efficiency in utilizing its assets to generate revenue. However, there is a decline in the ratio from August 31, 2022, to May 31, 2022, where it drops significantly from 0.55 to 0.22.
Between May 31, 2022, and August 31, 2021, the total asset turnover ratio demonstrates volatility, with fluctuations in values. However, from August 31, 2021, to November 30, 2020, the ratio shows a relatively stable and increasing trend, which is generally positive for the company's operational efficiency.
Overall, the total asset turnover ratio of AZZ Incorporated has shown mixed performance in recent periods. Further analysis and comparison with industry averages or competitors may provide additional insights into the company's asset utilization and operational efficiency.
Peer comparison
Feb 29, 2024