Lindsay Corporation (LNN)
Fixed asset turnover
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 644,561 | 659,283 | 674,084 | 697,149 | 746,855 | 780,751 | 770,744 | 734,196 | 681,873 | 625,313 | 567,646 | 542,403 | 503,573 | 473,784 | 474,692 | 448,172 | 446,120 | 441,514 | 444,072 | 465,456 |
| Property, plant and equipment | US$ in thousands | 110,691 | 103,818 | 99,681 | 96,992 | 93,838 | 93,518 | 94,472 | 94,441 | 92,291 | 91,639 | 91,997 | 92,517 | 89,221 | 81,295 | 79,581 | 72,827 | 68,762 | 70,305 | 68,968 | 70,367 |
| Fixed asset turnover | 5.82 | 6.35 | 6.76 | 7.19 | 7.96 | 8.35 | 8.16 | 7.77 | 7.39 | 6.82 | 6.17 | 5.86 | 5.64 | 5.83 | 5.96 | 6.15 | 6.49 | 6.28 | 6.44 | 6.61 |
February 29, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $644,561K ÷ $110,691K
= 5.82
The fixed asset turnover ratio for Lindsay Corporation has demonstrated a generally increasing trend over the past several quarters, starting at 5.82 in February 2020 and peaking at 8.35 in November 2022. This indicates that the company is generating more revenue relative to its fixed assets during this period.
While there have been fluctuations in the ratio since then, it has remained relatively high, with the latest value at 6.35 in February 2024. This suggests that Lindsay Corporation continues to efficiently utilize its fixed assets to generate revenue.
Overall, the upward trend in the fixed asset turnover ratio reflects positively on the company's operational efficiency and effectiveness in utilizing its fixed assets to generate sales.
Peer comparison
Feb 29, 2024