Neogen Corporation (NEOG)

Total asset turnover

		Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020
Revenue (ttm)	US$ in thousands	905,996	913,828	912,199	924,222	929,238	918,681	919,085	822,447	720,730	630,719	531,203	527,159	514,491	502,956	487,439	468,459	450,108	433,268	426,071	418,170
Total assets	US$ in thousands	4,036,340	4,054,090	4,503,170	4,584,160	4,582,490	4,602,420	4,561,100	4,554,430	4,508,760	4,563,240	977,405	992,929	979,898	966,680	932,106	920,192	880,216	845,626	821,592	797,182
Total asset turnover		0.22	0.23	0.20	0.20	0.20	0.20	0.20	0.18	0.16	0.14	0.54	0.53	0.53	0.52	0.52	0.51	0.51	0.51	0.52	0.52

February 28, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $905,996K ÷ $4,036,340K
= 0.22

Neogen Corporation's total asset turnover has shown a relatively stable trend over the past few years. The ratio has ranged between 0.51 and 0.54, indicating that, on average, the company generates between $0.51 and $0.54 in sales for every dollar of assets it owns.

It's worth noting that there was a sudden drop in the total asset turnover ratio in November 2022 and a subsequent increase in February 2023. This fluctuation could be attributed to various factors such as changes in sales volume, asset base, or business operations during that period.

Overall, a total asset turnover ratio of around 0.50 to 0.54 suggests that Neogen Corporation has been effectively utilizing its assets to generate sales revenue. Investors and analysts may continue to monitor this ratio to assess the efficiency of the company's asset management strategy in the future.