ELF Beauty Inc (ELF)

Total asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	1,016,910	576,650	389,406	314,020	276,544
Total assets	US$ in thousands	1,129,250	595,601	494,632	487,393	453,104
Total asset turnover		0.90	0.97	0.79	0.64	0.61

March 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,016,910K ÷ $1,129,250K
= 0.90

ELF Beauty Inc's total asset turnover has shown a fluctuating trend over the past five years. The ratio indicates how efficiently the company utilizes its assets to generate sales revenue. In fiscal year 2020 and 2021, the total asset turnover was relatively low at 0.61 and 0.64, respectively, suggesting that the company was less effective in generating sales from its assets during those periods.

However, there was a significant improvement in efficiency in fiscal year 2022, with the total asset turnover increasing to 0.79. This could indicate better asset management practices or increased sales volume relative to the size of the assets. The trend continued positively in fiscal year 2023, reaching a total asset turnover of 0.97, suggesting a further boost in utilizing assets to generate sales.

In the most recent fiscal year 2024, the total asset turnover decreased slightly to 0.90. While this is still higher than in previous years, the decline may warrant further investigation into any potential factors affecting asset utilization efficiency.

Overall, the trend in ELF Beauty Inc's total asset turnover shows a recent improvement in utilizing assets to generate sales revenue, which could indicate a positive development in the company's operational efficiency and financial performance.