Lindsay Corporation (LNN)
Total 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 |
| Total assets | US$ in thousands | 765,280 | 763,918 | 745,660 | 723,618 | 709,080 | 708,296 | 710,653 | 711,916 | 676,584 | 649,445 | 637,185 | 642,217 | 596,648 | 575,202 | 570,526 | 557,486 | 534,330 | 526,811 | 500,314 | 505,922 |
| Total asset turnover | 0.84 | 0.86 | 0.90 | 0.96 | 1.05 | 1.10 | 1.08 | 1.03 | 1.01 | 0.96 | 0.89 | 0.84 | 0.84 | 0.82 | 0.83 | 0.80 | 0.83 | 0.84 | 0.89 | 0.92 |
February 29, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $644,561K ÷ $765,280K
= 0.84
Lindsay Corporation's total asset turnover ratio has fluctuated over the past several reporting periods, ranging from 0.80 to 1.10. A total asset turnover ratio of less than 1 indicates that the company is generating less in sales compared to its total assets. The company's asset utilization efficiency improved in the recent periods, with the ratio increasing from 0.80 to 1.10, before declining slightly to 0.84 in the most recent period.
A higher total asset turnover ratio suggests that the company is effectively utilizing its assets to generate revenue. The increase in the ratio from 0.80 to 1.10 may signify improved efficiency in asset management or an increase in sales relative to the total assets employed by the company. However, the subsequent decline to 0.84 in the latest period could indicate a slowdown in sales activity or a decrease in asset utilization efficiency.
Overall, it is important for Lindsay Corporation to closely monitor its total asset turnover ratio and investigate the factors contributing to the fluctuations in order to maintain optimal asset management efficiency and profitability.
Peer comparison
Feb 29, 2024