Griffon Corporation (GFF)

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	2,569,202	2,527,910	2,540,295	2,579,326	2,596,635	2,667,247	2,748,003	2,820,103	2,760,205	2,432,204	2,324,089	2,184,420	2,207,560	2,509,033	2,492,326	2,417,798	2,351,128	2,264,619	2,208,339	2,196,705
Total assets	US$ in thousands	2,370,950	2,378,860	2,423,730	2,393,310	2,418,880	2,571,220	2,660,160	2,777,240	2,816,470	3,504,230	3,787,020	2,582,740	2,604,680	2,548,660	2,524,280	2,484,440	2,448,590	2,310,220	2,318,750	2,257,800
Total asset turnover		1.08	1.06	1.05	1.08	1.07	1.04	1.03	1.02	0.98	0.69	0.61	0.85	0.85	0.98	0.99	0.97	0.96	0.98	0.95	0.97

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,569,202K ÷ $2,370,950K
= 1.08

The total asset turnover of Griffon Corporation has shown a fluctuating trend over the past two years. It ranged from a low of 0.61 in the second quarter of 2022 to a high of 1.08 in the fourth quarter of 2023. The ratio measures how efficiently the company generates sales revenue from its total assets.

In recent quarters, there has been an improvement in total asset turnover, with the ratio consistently above 1. This indicates that Griffon Corporation is becoming more efficient in utilizing its assets to generate sales. The increase in total asset turnover can be a positive sign of operational efficiency and effective asset management.

However, the ratio experienced some fluctuations earlier, showing a dip in the third quarter of 2022 before gradually improving. Investors and analysts may want to monitor this ratio closely in future periods to assess the company's ability to efficiently utilize its assets to generate revenue.