Lindsay Corporation (LNN)
Fixed asset turnover
| Aug 31, 2024 | May 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 607,074 | 619,207 | 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 |
| Property, plant and equipment | US$ in thousands | 112,815 | 111,629 | 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 |
| Fixed asset turnover | 5.38 | 5.55 | 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 |
August 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $607,074K ÷ $112,815K
= 5.38
Lindsay Corporation's fixed asset turnover ratio has displayed fluctuations over the past few years. The ratio indicates how efficiently the company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio is generally preferable as it suggests that the company is effectively generating sales from its fixed assets.
In the most recent period, the fixed asset turnover ratio was 5.38, indicating that for every dollar of fixed assets, Lindsay Corporation generated $5.38 in sales. This ratio has been relatively stable around the 5-8 range over the last few years, suggesting consistent and efficient use of its fixed assets to drive revenue.
The trend in the fixed asset turnover ratio shows a gradual decrease from the high of 8.35 in November 2022 to the current level of 5.38 in August 2024. This could indicate potential changes in the company's asset base, sales volume, or operational efficiency.
Further analysis of the factors influencing this trend, such as changes in asset acquisition, utilization, or sales volume, would provide more insights into the company's operational performance and future prospects.
Peer comparison
Aug 31, 2024