ESCO Technologies Inc (ESE)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 947,264 | 852,649 | 715,135 | 728,985 | 816,796 |
| Total assets | US$ in thousands | 1,683,210 | 1,654,460 | 1,577,340 | 1,370,190 | 1,466,700 |
| Total asset turnover | 0.56 | 0.52 | 0.45 | 0.53 | 0.56 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $947,264K ÷ $1,683,210K
= 0.56
The total asset turnover ratio of Esco Technologies, Inc. has varied over the past five years, ranging from 0.45 to 0.57. The ratio indicates the company's ability to generate sales revenue from its total assets. A higher ratio is generally preferred as it suggests more efficient utilization of assets to generate sales.
Esco Technologies, Inc. experienced a notable increase in total asset turnover in 2023 compared to the previous year, indicating improved efficiency in generating sales from its assets. However, it's important to note that the ratio has fluctuated over the period, suggesting variations in the company's asset management and sales generation efficiency.
Further analysis of the company's operational and financial strategies, as well as industry comparisons, would provide additional insights into the factors driving these fluctuations and the overall efficiency of asset utilization.
Peer comparison
Sep 30, 2023