Insteel Industries Inc (IIIN)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 529,198 | 649,188 | 826,832 | 590,601 | 472,618 |
| Total assets | US$ in thousands | 422,552 | 447,513 | 471,745 | 390,710 | 337,902 |
| Total asset turnover | 1.25 | 1.45 | 1.75 | 1.51 | 1.40 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $529,198K ÷ $422,552K
= 1.25
The total asset turnover ratio of Insteel Industries Inc has shown fluctuations over the past five years. It was 1.40 in 2020, increased to 1.51 in 2021, and further rose to 1.75 in 2022, indicating improvements in the efficiency of utilizing assets to generate revenue.
However, in 2023, the total asset turnover ratio declined to 1.45, followed by a further decrease to 1.25 in 2024. This downward trend suggests a potential decline in the company's ability to generate sales from its total assets efficiently.
Overall, the varying total asset turnover ratios indicate fluctuations in Insteel Industries Inc's efficiency in utilizing its assets to generate revenue over the years, highlighting the importance of monitoring and analyzing this metric to assess the company's operational performance.
Peer comparison
Sep 30, 2024