Mesa Laboratories Inc (MLAB)

Total asset turnover

		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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	216,187	212,874	213,688	219,272	219,080	163,489	163,898	140,989	125,456	163,420	142,896	138,916	133,937	130,181	127,664	121,340	117,687	109,925	104,952	104,281
Total assets	US$ in thousands	446,796	741,769	637,188	642,611	661,832	662,984	656,231	685,811	707,369	721,712	609,102	612,490	601,475	621,636	588,932	576,733	409,108	423,467	392,465	159,671
Total asset turnover		0.48	0.29	0.34	0.34	0.33	0.25	0.25	0.21	0.18	0.23	0.23	0.23	0.22	0.21	0.22	0.21	0.29	0.26	0.27	0.65

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $216,187K ÷ $446,796K
= 0.48

Total asset turnover is a key financial ratio that measures a company's efficiency in generating sales revenue from its assets. For Mesa Laboratories Inc, the total asset turnover has fluctuated over the past several quarters, ranging from 0.18 to 0.48.

The trend indicates that Mesa Laboratories Inc has experienced variability in its ability to utilize its assets to generate sales revenue efficiently. Generally, a higher total asset turnover ratio suggests that the company is more effective in generating revenue from its assets.

In the most recent quarter, the total asset turnover ratio was 0.48, signaling an improvement compared to the previous quarters. This may imply that Mesa Laboratories Inc is using its assets more efficiently to drive sales, which could be a positive indicator of operational performance.

However, it is essential to further investigate the factors contributing to these fluctuations in total asset turnover to gain a comprehensive understanding of Mesa Laboratories Inc's operational efficiency and financial performance.