HNI Corp (HNI)
Total asset turnover
| Dec 31, 2024 | Sep 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 | 2,582,500 | 2,651,600 | 2,542,900 | 2,434,000 | 2,323,100 | 2,210,300 | 2,268,500 | 2,361,700 | 2,395,700 | 2,383,600 | 2,272,400 | 2,184,393 | 2,136,642 | 2,057,005 | 1,963,961 | 1,948,372 | 2,000,722 | 2,119,093 | 2,225,230 | 2,233,871 |
| Total assets | US$ in thousands | 1,875,100 | 1,913,400 | 1,912,600 | 1,928,800 | 2,017,000 | 2,075,600 | 1,382,800 | 1,414,500 | 1,498,600 | 1,586,700 | 1,525,000 | 1,497,900 | 1,534,370 | 1,477,190 | 1,405,580 | 1,418,000 | 1,374,720 | 1,315,360 | 1,369,900 | 1,452,510 |
| Total asset turnover | 1.38 | 1.39 | 1.33 | 1.26 | 1.15 | 1.06 | 1.64 | 1.67 | 1.60 | 1.50 | 1.49 | 1.46 | 1.39 | 1.39 | 1.40 | 1.37 | 1.46 | 1.61 | 1.62 | 1.54 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,582,500K ÷ $1,875,100K
= 1.38
Total asset turnover is a key financial ratio that measures a company's ability to generate sales revenue from its total assets. It indicates how efficiently a company is utilizing its assets to generate sales.
Analyzing the data for HNI Corp's total asset turnover over the past few years, we observe fluctuations in the ratio. The company had a total asset turnover of 1.54 on December 31, 2019, which increased to its peak of 1.67 by December 31, 2022. This indicates an improvement in the company's efficiency in generating sales relative to its assets during this period.
However, after reaching its peak, the total asset turnover ratio started to decline, reaching its lowest point of 1.06 on June 30, 2023. This significant drop suggests a potential decrease in the company's ability to generate sales from its assets efficiently during that period.
Following the decrease, there was a slight recovery in the ratio, with the total asset turnover standing at 1.38 by December 31, 2024. This demonstrates a partial improvement in the company's asset utilization efficiency compared to the lower ratios observed in the previous quarters.
Overall, the fluctuations in HNI Corp's total asset turnover indicate varying levels of efficiency in utilizing its assets to generate sales over the period analyzed. Further monitoring and analysis of this ratio will be necessary to assess the company's ongoing operational efficiency and financial performance.