Flex Ltd (FLEX)

Total asset turnover

		Sep 30, 2024	Jun 30, 2024	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
Revenue (ttm)	US$ in thousands	26,095,000	26,986,000	27,967,000	29,217,000	29,857,000	30,143,000	30,146,000	29,578,000	28,452,000	26,922,000	25,927,000	25,342,000	25,444,000	25,204,000	24,050,230	23,268,720	23,049,280	23,150,040	24,173,530	24,915,160
Total assets	US$ in thousands	18,586,000	17,737,000	18,257,000	20,366,000	20,968,000	20,936,000	21,407,000	20,892,000	20,623,000	20,054,000	19,325,000	18,175,000	16,711,000	16,192,000	15,836,000	15,668,000	15,001,000	14,133,100	13,690,000	14,135,400
Total asset turnover		1.40	1.52	1.53	1.43	1.42	1.44	1.41	1.42	1.38	1.34	1.34	1.39	1.52	1.56	1.52	1.49	1.54	1.64	1.77	1.76

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $26,095,000K ÷ $18,586,000K
= 1.40

Flex Ltd's total asset turnover has been relatively stable over the past eight quarters, ranging from 1.34 to 1.64. The average total asset turnover ratio over this period is 1.46. This indicates that, on average, Flex generates $1.46 in revenue for every $1 of assets it holds. The highest total asset turnover ratio of 1.77 was recorded in the first quarter of 2020, while the lowest ratio of 1.34 was observed in the second quarter of 2022.

Overall, the trend in total asset turnover suggests that Flex has been efficient in utilizing its assets to generate revenue, with some fluctuations in performance over time. It is important for Flex to continue monitoring and managing its asset turnover ratio to ensure optimal utilization of its resources for sustained financial performance.