Mesa Laboratories Inc (MLAB)

Total asset turnover

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 Jun 30, 2020 Mar 31, 2020
Revenue (ttm) US$ in thousands 237,747 228,380 223,712 216,187 212,874 213,688 219,272 219,080 222,368 222,777 199,868 184,335 163,420 142,896 138,916 133,937 130,181 127,664 121,340 117,687
Total assets US$ in thousands 437,148 454,098 440,361 446,796 741,769 637,188 642,611 661,832 662,984 656,231 685,811 707,369 721,712 609,102 612,490 600,151 621,636 588,932 576,733 420,206
Total asset turnover 0.54 0.50 0.51 0.48 0.29 0.34 0.34 0.33 0.34 0.34 0.29 0.26 0.23 0.23 0.23 0.22 0.21 0.22 0.21 0.28

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $237,747K ÷ $437,148K
= 0.54

Mesa Laboratories Inc's total asset turnover has exhibited fluctuations over the analyzed period. The ratio ranged from a low of 0.21 in June 2020, December 2020, and December 2021, to a high of 0.54 in December 2024. Despite some variability, the trend shows an overall increase over time, suggesting that Mesa Laboratories Inc has been utilizing its total assets more efficiently to generate revenue. The substantial improvement in total asset turnover from 0.21 in December 2021 to 0.54 in December 2024 indicates the company's effectiveness in generating sales relative to its total assets, which could be attributed to operational improvements or strategic changes in asset management. It is important for Mesa Laboratories Inc to continue monitoring and optimizing its asset turnover to ensure sustained operational efficiency and profitability.