Haemonetics Corporation (HAE)

Total asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	2,594,610	2,323,320	985,896	860,363	972,079
Total assets	US$ in thousands	2,195,590	1,934,820	1,859,730	1,819,920	1,267,110
Total asset turnover		1.18	1.20	0.53	0.47	0.77

March 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,594,610K ÷ $2,195,590K
= 1.18

Total asset turnover measures how efficiently a company utilizes its assets to generate revenue. In the case of Haemonetics Corporation, the total asset turnover has shown a fluctuating trend over the past five years. In the most recent fiscal year ending on March 31, 2024, the total asset turnover was 1.18, indicating that the company generated $1.18 in revenue for every $1 of assets.

Comparing this to the previous years, the total asset turnover was slightly higher in the fiscal year 2023 at 1.20, suggesting a slightly more efficient utilization of assets for revenue generation. However, in fiscal years 2022, 2021, and 2020, the total asset turnover was notably lower at 0.53, 0.47, and 0.77, respectively.

This fluctuation in total asset turnover may indicate varying levels of efficiency in asset utilization over the years. It is important for Haemonetics Corporation to focus on optimizing its asset management strategies to consistently improve the total asset turnover ratio, thereby increasing revenue generation per unit of assets.