Griffon Corporation (GFF)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,621,550 | 2,596,560 | 2,760,350 | 2,207,580 | 2,333,180 |
| Total assets | US$ in thousands | 2,370,950 | 2,418,880 | 2,816,470 | 2,604,680 | 2,448,590 |
| Total asset turnover | 1.11 | 1.07 | 0.98 | 0.85 | 0.95 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,621,550K ÷ $2,370,950K
= 1.11
Griffon Corporation's total asset turnover has exhibited a positive trend over the last five years, increasing from 0.95 in 2020 to 1.11 in 2024. This indicates that the company generated $1.11 in revenue for every $1 of assets in 2024, reflecting efficient utilization of its assets to generate sales. The rising trend suggests improved operational efficiency and asset utilization, which is a positive indicator of the company's management of its resources. It is important to note that a higher total asset turnover ratio generally indicates better performance, as the company is generating more revenue from its assets. Overall, Griffon Corporation's increasing total asset turnover ratio highlights effective management of its assets to drive sales growth.