Nordson Corporation (NDSN)
Total asset turnover
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,568,040 | 2,568,450 | 2,336,130 | 2,088,460 | 2,146,130 |
| Total assets | US$ in thousands | 5,251,770 | 3,820,380 | 3,790,960 | 3,674,660 | 3,516,450 |
| Total asset turnover | 0.49 | 0.67 | 0.62 | 0.57 | 0.61 |
October 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,568,040K ÷ $5,251,770K
= 0.49
The total asset turnover of Nordson Corp, a manufacturer of precision dispensing equipment, abrasives and related products, for the years ending October 31, 2019 through 2023, indicates a declining trend. The ratio measures the efficiency with which the company is using its assets to generate revenue. A decreasing total asset turnover may suggest that the company's asset utilization has become less efficient over the years, which could be due to factors such as underutilization of assets or an increase in the proportion of non-operating assets. It would be important to further analyze the specific components of the turnover ratio, such as sales and average total assets, to understand the drivers behind this trend. Additionally, comparative analysis with industry peers may provide insights into Nordson Corp's asset management performance.
Peer comparison
Oct 31, 2023