Penguin Solutions, Inc. (PENG)

Total asset turnover

		Aug 31, 2024	Aug 31, 2023	Aug 31, 2022	Aug 31, 2021	Aug 31, 2020
Revenue	US$ in thousands	1,170,800	1,441,250	1,395,880	1,055,530	1,122,380
Total assets	US$ in thousands	1,474,510	1,505,960	1,572,060	1,344,800	786,608
Total asset turnover		0.79	0.96	0.89	0.78	1.43

August 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,170,800K ÷ $1,474,510K
= 0.79

The total asset turnover ratio for Penguin Solutions, Inc. demonstrates notable fluctuations over the analyzed period from August 31, 2020, to August 31, 2024. Specifically, the ratio was 1.43 in 2020, indicating a relatively efficient utilization of assets to generate sales during that year. However, this ratio declined sharply to 0.78 in 2021, suggesting a significant decrease in asset efficiency or a potential increase in asset base without a proportional increase in sales. Subsequently, the ratio modestly improved to 0.89 in 2022 and further to 0.96 in 2023, approaching closer to the 2020 level, which indicates some recovery or better utilization of assets. In 2024, the ratio declined again to 0.79, falling below the 2023 figure and suggesting a reduction in sales efficiency relative to the asset base. Overall, the trend reflects periods of decreased asset productivity, with partial recoveries, but does not indicate a consistent improvement pattern over the four-year span.