HNI Corp (HNI)
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 | 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 | 2,221,927 | 2,205,091 | 2,222,483 |
| Total assets | US$ in thousands | 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 | 1,470,480 | 1,442,110 | 1,423,400 |
| Total asset turnover | 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 | 1.51 | 1.53 | 1.56 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,434,000K ÷ $1,928,800K
= 1.26
The total asset turnover for HNI Corp has fluctuated over the quarters, ranging from 1.06 to 1.67. A higher total asset turnover indicates that the company is generating more revenue relative to its total assets, showing efficient asset utilization. The peak turnover of 1.67 in Q4 2022 suggests strong performance in generating sales from its assets. However, the dip to 1.06 in Q2 2023 may indicate a slowdown in asset efficiency during that period. Overall, monitoring total asset turnover can provide insights into the company's operational efficiency and asset management effectiveness over time.