Haynes International Inc (HAYN)
Total asset turnover
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 595,589 | 581,609 | 566,513 | 554,183 | 519,804 | 487,796 | 440,365 | 398,795 | 364,018 | 336,761 | 321,421 | 313,735 | 343,237 | 379,566 | 429,268 | 474,910 | 490,833 | 489,454 | 482,127 | 469,212 |
| Total assets | US$ in thousands | 700,682 | 706,281 | 688,210 | 687,664 | 665,802 | 632,295 | 614,524 | 565,513 | 530,609 | 546,455 | 563,608 | 555,420 | 554,401 | 560,724 | 604,012 | 622,784 | 606,967 | 593,800 | 587,823 | 587,732 |
| Total asset turnover | 0.85 | 0.82 | 0.82 | 0.81 | 0.78 | 0.77 | 0.72 | 0.71 | 0.69 | 0.62 | 0.57 | 0.56 | 0.62 | 0.68 | 0.71 | 0.76 | 0.81 | 0.82 | 0.82 | 0.80 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $595,589K ÷ $700,682K
= 0.85
Haynes International Inc.'s total asset turnover has shown a consistent improvement over the past few quarters. The company's total asset turnover ratio, which measures the efficiency of the company in generating sales from its total assets, has increased steadily from 0.71 in Q2 2022 to 0.86 in Q1 2024. This indicates that the company is utilizing its assets more effectively to generate revenue.
A higher total asset turnover signifies that the company is generating more sales from a given level of assets, which is a positive indicator of operational efficiency. This improvement in total asset turnover could be attributed to various factors, such as better asset management practices, more effective utilization of resources, or increased sales efficiency.
Overall, the increasing trend in total asset turnover for Haynes International Inc. reflects positively on the company's operational performance and efficiency in generating sales from its assets. This indicates that the company is moving in the right direction in terms of managing its resources effectively to drive revenue growth.
Peer comparison
Dec 31, 2023