ELF Beauty Inc (ELF)

Total asset turnover

		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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	1,024,893	891,107	766,065	671,498	576,756	494,534	446,184	415,879	389,935	377,471	367,630	347,817	314,882	296,923	288,416	282,943	277,931	267,511	266,882	326,787
Total assets	US$ in thousands	1,129,250	1,108,280	746,936	657,881	595,601	555,925	542,141	513,857	494,632	490,950	493,012	498,392	487,393	480,905	473,424	462,068	453,104	456,251	437,027	435,981
Total asset turnover		0.91	0.80	1.03	1.02	0.97	0.89	0.82	0.81	0.79	0.77	0.75	0.70	0.65	0.62	0.61	0.61	0.61	0.59	0.61	0.75

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,024,893K ÷ $1,129,250K
= 0.91

Total asset turnover is a key ratio that measures a company's ability to generate revenue from its assets. ELF Beauty Inc's total asset turnover has fluctuated over the past several quarters, ranging from a low of 0.59 to a high of 1.03. This ratio indicates that the company generated between $0.59 to $1.03 in revenue for every $1 of assets it had during the respective periods.

The trend in total asset turnover for ELF Beauty Inc shows some variability, with some quarters showing improvements and others showing declines. For example, in the most recent quarter, the total asset turnover was 0.91, which is slightly higher than the previous quarter but lower than the peak in the third quarter of 2023 at 1.03.

Overall, a total asset turnover ratio below 1 indicates that the company may not be efficiently utilizing its assets to generate revenue. ELF Beauty Inc should focus on improving this ratio to increase its efficiency in generating sales from its assets. It is important for the company to closely monitor this ratio and identify any potential inefficiencies in its asset utilization to enhance its overall financial performance.