HealthEquity Inc (HQY)

Total asset turnover

		Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Revenue (ttm)	US$ in thousands	958,410	916,132	884,134	848,438	815,511	788,427	748,466	735,565	717,815	706,638	714,959	700,254	700,489	719,841	694,134	614,980	525,114	399,691	323,044	305,671
Total assets	US$ in thousands	3,163,790	3,093,500	3,066,460	3,035,010	3,088,900	3,064,760	3,074,020	3,065,070	3,107,100	3,099,610	3,148,630	3,161,870	2,710,410	2,657,260	2,664,380	2,562,480	2,564,980	2,559,920	1,098,340	596,639
Total asset turnover		0.30	0.30	0.29	0.28	0.26	0.26	0.24	0.24	0.23	0.23	0.23	0.22	0.26	0.27	0.26	0.24	0.20	0.16	0.29	0.51

January 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $958,410K ÷ $3,163,790K
= 0.30

HealthEquity Inc's total asset turnover has shown a fluctuating trend over the past few years, ranging from a low of 0.16 to a high of 0.51. The metric measures the company's efficiency in generating revenue relative to its total assets. A higher total asset turnover is generally indicative of better efficiency in asset utilization.

In recent periods, the total asset turnover has been relatively stable, averaging around 0.25 to 0.30. This suggests that the company has been effectively utilizing its assets to generate revenue. However, there was a notable decrease in the ratio in the early part of 2020, possibly due to the impact of the global pandemic on the company's operations.

Overall, the trend indicates that HealthEquity Inc has been maintaining a decent level of asset efficiency, but there may be opportunities for further improvement in optimizing asset utilization to drive revenue growth.