Insteel Industries Inc (IIIN)
Total asset turnover
| Sep 30, 2024 | Jun 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 | 529,219 | 549,135 | 569,054 | 600,711 | 649,214 | 702,408 | 763,864 | 817,999 | 826,223 | 790,215 | 723,780 | 649,569 | 590,694 | 556,516 | 517,734 | 493,592 | 471,587 | 446,089 | 450,346 | 447,416 |
| Total assets | US$ in thousands | 422,552 | 414,615 | 397,227 | 390,568 | 447,513 | 445,382 | 428,224 | 423,756 | 471,745 | 481,048 | 420,558 | 368,779 | 390,710 | 371,931 | 336,861 | 309,951 | 337,902 | 336,690 | 319,035 | 306,451 |
| Total asset turnover | 1.25 | 1.32 | 1.43 | 1.54 | 1.45 | 1.58 | 1.78 | 1.93 | 1.75 | 1.64 | 1.72 | 1.76 | 1.51 | 1.50 | 1.54 | 1.59 | 1.40 | 1.32 | 1.41 | 1.46 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $529,219K ÷ $422,552K
= 1.25
Total asset turnover measures the efficiency with which a company generates revenue from its assets. In the case of Insteel Industries Inc, the total asset turnover has fluctuated over the past few years, ranging from 1.25 to 1.93.
The trend shows an overall increasing pattern from 2019 to 2020, peaking in 2022 at 1.93, indicating that the company was generating more revenue for each dollar of assets during that period. However, the total asset turnover dropped slightly in the subsequent years, with some fluctuations, but generally staying above 1.40, which indicates that Insteel Industries Inc has been effectively utilizing its assets to generate sales.
Overall, the total asset turnover ratio suggests that Insteel Industries Inc has been efficiently managing its assets to drive revenue, although there have been some variations in performance over the years. Further analysis and comparison with industry averages could provide additional insights into the company's asset utilization efficiency.
Peer comparison
Sep 30, 2024