Innovex International, Inc (INVX)

Total asset turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	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
Revenue (ttm)	US$ in thousands	867,153	763,261	633,143	508,800	474,227	443,492	424,060	394,530	365,427	369,798	362,070	343,168	338,024	324,843	322,945	332,267	340,565	350,214	364,973	386,192
Total assets	US$ in thousands	1,227,080	1,196,000	1,197,480	1,132,780	1,008,160	1,021,030	1,028,180	486,980	979,666	975,396	972,515	970,524	973,566	978,110	1,010,430	1,093,740	1,124,710	1,126,830	1,151,170	1,159,540
Total asset turnover		0.71	0.64	0.53	0.45	0.47	0.43	0.41	0.81	0.37	0.38	0.37	0.35	0.35	0.33	0.32	0.30	0.30	0.31	0.32	0.33

June 30, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $867,153K ÷ $1,227,080K
= 0.71

The analysis of Innovex International, Inc.'s total asset turnover ratio over the specified periods indicates a largely stable trend from September 2020 through March 2023, with ratios fluctuating narrowly between 0.30 and 0.38. This consistency suggests that the company was maintaining a steady level of efficiency in generating revenue relative to its asset base during this period.

However, a significant increase in the ratio is observed starting in September 2023, ascending sharply from 0.45 to 0.81 by the same quarter in 2024. This abrupt rise suggests a notable improvement in asset utilization efficiency, potentially driven by operational enhancements, strategic asset optimization, or shifts in revenue-generating activities.

Following this peak, the ratio continues an upward trajectory through 2024 and into mid-2025, reaching 0.71 in June 2025. The sustained higher ratios imply an ongoing trend towards more effective asset management and utilization, translating into increased revenue generation per dollar of assets employed.

Overall, the data reflect a period of relative stability followed by a marked escalation in asset turnover efficiency starting in late 2023, indicative of positive operational developments or strategic initiatives improving asset productivity within Innovex International, Inc.