MSA Safety (MSA)

Total asset turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	1,787,646	1,708,559	1,648,578	1,586,762	1,527,954	1,483,509	1,447,089	1,415,368	1,400,181	1,370,674	1,338,733	1,315,694	1,348,223	1,335,229	1,381,851	1,417,088	1,401,981	1,388,510	1,368,592	1,358,248
Total assets	US$ in thousands	2,170,150	2,194,340	2,199,150	2,179,670	2,376,980	2,387,290	2,408,450	2,415,780	2,396,400	2,259,450	1,963,230	1,942,760	1,919,630	1,792,660	1,752,940	1,730,930	1,781,800	1,699,140	1,713,860	1,671,370
Total asset turnover		0.82	0.78	0.75	0.73	0.64	0.62	0.60	0.59	0.58	0.61	0.68	0.68	0.70	0.74	0.79	0.82	0.79	0.82	0.80	0.81

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,787,646K ÷ $2,170,150K
= 0.82

The total asset turnover ratio for MSA Safety Inc has shown a positive trend over the past eight quarters, indicating an improvement in the company's efficiency in utilizing its assets to generate sales. The ratio increased from 0.59 in Q1 2022 to 0.82 in Q4 2023, reflecting a consistent upward trend. This indicates that MSA Safety Inc has been able to generate more revenue for every dollar of assets invested, which is a positive sign of operational efficiency. Overall, the increasing trend in total asset turnover suggests that MSA Safety Inc is effectively managing its asset base to drive revenue growth.