Penguin Solutions, Inc. (PENG)
Total asset turnover
| May 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,342,020 | 1,318,349 | 1,237,651 | 1,170,796 | 1,022,916 | 1,066,754 | 1,170,310 | 1,287,860 | 1,562,289 | 1,680,411 | 1,741,205 | 1,819,352 | 1,849,364 | 1,824,552 | 1,679,390 | 1,501,143 | 1,330,464 | 1,174,023 | 1,142,056 | 1,122,377 |
| Total assets | US$ in thousands | 1,802,780 | 1,811,340 | 1,583,020 | 1,474,510 | 1,546,130 | 1,517,450 | 1,630,860 | 1,505,960 | 1,591,190 | 1,640,080 | 1,807,660 | 1,572,060 | 1,554,050 | 1,508,510 | 1,323,700 | 1,344,800 | 1,189,060 | 820,807 | 784,725 | 786,608 |
| Total asset turnover | 0.74 | 0.73 | 0.78 | 0.79 | 0.66 | 0.70 | 0.72 | 0.86 | 0.98 | 1.02 | 0.96 | 1.16 | 1.19 | 1.21 | 1.27 | 1.12 | 1.12 | 1.43 | 1.46 | 1.43 |
May 31, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,342,020K ÷ $1,802,780K
= 0.74
The total asset turnover ratio for Penguin Solutions, Inc. demonstrates notable fluctuations over the analyzed period. During the initial phase from August 31, 2020, through November 30, 2021, the ratio remained relatively stable, fluctuating slightly around the range of 1.12 to 1.46. Notably, the highest ratio of 1.46 was observed on November 30, 2020, indicating efficient utilization of assets in generating sales during this period.
Starting from May 31, 2021, the ratio declined sharply to 1.12, continuing a downward trend through subsequent periods. The ratio showed a consistent decrease moving into 2022 and 2023, reaching a low point of approximately 0.66 on May 31, 2024. This decline signifies a reduction in sales generated per dollar of assets, potentially reflecting either decreased sales efficiency, asset base expansion without commensurate sales growth, or strategic shifts affecting operational efficiency.
Post-May 2024, there is a slight recovery observed in the ratio, rising to approximately 0.79 on August 31, 2024, before stabilizing around 0.73 to 0.78 through early 2025.
Overall, the trend indicates a gradual erosion of asset utilization efficiency over the analyzed timeframe, transitioning from a relatively high and stable ratio in 2020 and early 2021 to a lower, more variable ratio by late 2024 and early 2025. This shift could imply changes in operational performance, scale of assets, or strategic reorientation affecting how effectively assets are being employed to generate sales.
Peer comparison
May 31, 2025