Quanex Building Products (NX)
Total asset turnover
| Oct 31, 2024 | Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,277,860 | 1,130,580 | 1,221,500 | 1,072,150 | 851,573 |
| Total assets | US$ in thousands | 2,319,790 | 831,143 | 724,617 | 717,323 | 691,585 |
| Total asset turnover | 0.55 | 1.36 | 1.69 | 1.49 | 1.23 |
October 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,277,860K ÷ $2,319,790K
= 0.55
Quanex Building Products' total asset turnover has fluctuated over the past five years. In 2024, the total asset turnover was 0.55, which indicates that the company generated $0.55 in revenue for every $1 of assets it owned. This is a significant decrease from the previous year, where the total asset turnover was 1.36.
The company's total asset turnover was at its highest in 2022, reaching 1.69, implying that the company was more efficient in generating revenue from its assets that year. In 2021 and 2020, the total asset turnover was 1.49 and 1.23, respectively, showing a consistent performance in utilizing its assets to generate revenue.
Overall, Quanex Building Products' total asset turnover has shown variations over the years, suggesting changes in the company's efficiency in utilizing its assets to generate revenue. The company may need to further analyze its asset management strategies to improve its total asset turnover ratio in the future.
Peer comparison
Oct 31, 2024