Myers Industries Inc (MYE)
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 | 813,105 | 834,363 | 864,613 | 889,454 | 899,773 | 887,215 | 859,353 | 814,341 | 762,817 | 700,469 | 632,519 | 562,548 | 510,376 | 489,727 | 482,938 | 498,884 | 515,785 | 537,355 | 546,887 | 553,041 |
| Total assets | US$ in thousands | 541,631 | 531,121 | 542,710 | 556,197 | 542,634 | 549,724 | 554,012 | 517,245 | 484,549 | 494,793 | 430,475 | 420,281 | 400,015 | 366,383 | 354,845 | 348,867 | 353,139 | 357,286 | 352,996 | 345,788 |
| Total asset turnover | 1.50 | 1.57 | 1.59 | 1.60 | 1.66 | 1.61 | 1.55 | 1.57 | 1.57 | 1.42 | 1.47 | 1.34 | 1.28 | 1.34 | 1.36 | 1.43 | 1.46 | 1.50 | 1.55 | 1.60 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $813,105K ÷ $541,631K
= 1.50
Myers Industries Inc. has shown a relatively stable total asset turnover ratio over the past eight quarters, ranging from 1.50 to 1.66. The total asset turnover ratio measures the efficiency of the company in generating sales from its total assets. This indicates that, on average, for each dollar of assets held by the company, it generates sales of around $1.55 to $1.60.
A total asset turnover ratio of 1.55 to 1.66 indicates that Myers Industries Inc. is effectively utilizing its assets to generate revenue. A higher ratio suggests that the company is more efficient in utilizing its assets to generate sales. The slight fluctuations in the ratio over time may reflect changes in the company's operational efficiency, asset utilization, or sales volume.
Overall, Myers Industries Inc. has been maintaining a relatively consistent level of total asset turnover, which suggests that the company is managing its assets efficiently to generate sales. However, further analysis and comparison with industry peers may provide more insights into the company's operational performance and efficiency in utilizing its assets.
Peer comparison
Dec 31, 2023