Nextracker Inc. Class A Common Stock (NXT)

Total asset turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022
Revenue (ttm)	US$ in thousands	2,499,841	2,281,721	2,084,665
Total assets	US$ in thousands	2,518,780	2,095,120	2,033,560	1,656,870	1,419,680	1,259,700
Total asset turnover		0.99	1.09	1.03

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,499,841K ÷ $2,518,780K
= 0.99

Based on the data provided, Nextracker Inc. Class A Common Stock's total asset turnover ratio has been showing fluctuations over recent quarters. The total asset turnover ratio measures the efficiency of the company in generating revenue from its assets.

In the first quarter of 2024, the total asset turnover ratio was 0.99, which indicates that for each dollar of assets the company had, it generated $0.99 of revenue. This suggests a slight decrease in efficiency compared to the previous quarter.

In the fourth quarter of 2023, the total asset turnover ratio was higher at 1.09, indicating that the company was more efficient in utilizing its assets to generate revenue during that period. However, in the third quarter of 2023, the ratio was 1.03, which was slightly lower than the fourth quarter.

Overall, while the total asset turnover ratio has shown some variability in recent quarters, it is essential for Nextracker Inc. to monitor and manage this ratio effectively to ensure optimal utilization of its assets in generating revenue.