CleanSpark Inc (CLSK)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 378,968 | 168,408 | 131,525 | 39,287 | 10,029 |
| Total assets | US$ in thousands | 1,962,660 | 761,578 | 452,625 | 317,473 | 22,340 |
| Total asset turnover | 0.19 | 0.22 | 0.29 | 0.12 | 0.45 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $378,968K ÷ $1,962,660K
= 0.19
The total asset turnover ratio for CleanSpark Inc exhibits notable fluctuations over the analyzed period from September 30, 2020, to September 30, 2024. In the fiscal year ending September 30, 2020, the ratio was 0.45, indicating a relatively efficient utilization of assets to generate sales. However, this ratio declined sharply to 0.12 by September 30, 2021, reflecting a significant decrease in asset efficiency or increased asset base relative to sales during that period.
Subsequently, the ratio partially recovered to 0.29 in fiscal 2022, suggesting some improvement in asset utilization but still remaining below the 2020 level. In the following year, September 2023, the ratio dipped again to 0.22, indicating a further decrease in efficiency. Finally, as of September 30, 2024, the ratio declined slightly further to 0.19, suggesting a continued trend of decreased asset turnover.
Overall, the pattern points to a decline in asset utilization efficiency over the observed timeframe, with the ratio dropping from a relatively high 0.45 in 2020 to 0.19 in 2024. This trend could imply that the company's sales are not growing proportionally with its asset base or that asset investments have increased without a commensurate rise in sales. Such a decline warrants further investigation into operational efficiency, asset management policies, and potential changes in business strategy that could be affecting asset productivity.
Peer comparison
Sep 30, 2024