IDEX Corporation (IEX)
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 | 3,273,900 | 3,295,700 | 3,326,300 | 3,276,200 | 3,181,900 | 3,086,000 | 2,974,000 | 2,863,900 | 2,764,800 | 2,664,822 | 2,533,935 | 2,409,184 | 2,351,646 | 2,342,821 | 2,385,954 | 2,466,804 | 2,494,573 | 2,502,670 | 2,501,312 | 2,493,573 |
| Total assets | US$ in thousands | 5,865,200 | 5,669,600 | 5,719,900 | 5,658,000 | 5,511,900 | 4,892,600 | 4,912,800 | 4,999,700 | 4,917,200 | 4,854,580 | 4,783,000 | 4,460,730 | 4,414,400 | 4,225,600 | 4,073,590 | 3,943,680 | 3,813,900 | 3,713,900 | 3,640,220 | 3,551,460 |
| Total asset turnover | 0.56 | 0.58 | 0.58 | 0.58 | 0.58 | 0.63 | 0.61 | 0.57 | 0.56 | 0.55 | 0.53 | 0.54 | 0.53 | 0.55 | 0.59 | 0.63 | 0.65 | 0.67 | 0.69 | 0.70 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,273,900K ÷ $5,865,200K
= 0.56
Total asset turnover measures how efficiently a company is utilizing its assets to generate sales revenue. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets.
In the case of Idex Corporation, the total asset turnover ratio has been fairly stable over the past eight quarters, ranging from 0.56 to 0.63. This indicates that, on average, Idex is generating sales of around 56 to 63 cents for every dollar of assets it holds.
While the ratio has fluctuated slightly, it appears that Idex has been able to maintain a relatively consistent level of efficiency in utilizing its assets to generate revenue. It is important for the company to closely monitor and potentially improve this ratio over time to ensure optimal utilization of its assets and to maximize profitability.
Peer comparison
Dec 31, 2023