Parker-Hannifin Corporation (PH)

Total asset turnover

		Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Revenue (ttm)	US$ in thousands	19,954,000	19,312,100	19,271,150	19,107,110	18,836,130	18,077,990	17,191,440	16,426,780	15,687,760	15,400,500	15,059,880	14,645,580	14,118,560	13,381,960	13,273,130	13,339,290	13,425,410	13,946,280	14,011,920	14,021,370
Total assets	US$ in thousands	29,297,800	29,578,300	29,694,900	29,592,700	29,964,500	30,515,700	30,520,900	29,954,900	25,943,900	22,545,300	22,395,500	20,236,900	20,341,200	19,841,500	19,827,400	19,785,900	19,887,800	20,365,300	21,044,000	19,568,600
Total asset turnover		0.68	0.65	0.65	0.65	0.63	0.59	0.56	0.55	0.60	0.68	0.67	0.72	0.69	0.67	0.67	0.67	0.68	0.68	0.67	0.72

June 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $19,954,000K ÷ $29,297,800K
= 0.68

The total asset turnover for Parker-Hannifin Corporation has demonstrated some fluctuations over the past few quarters, ranging from 0.55 to 0.72. This ratio measures the efficiency at which the company generates sales from its total assets. A higher total asset turnover indicates that the company is more effective in utilizing its assets to generate revenue.

In the most recent quarter, the total asset turnover was 0.68, suggesting that the company generated $0.68 in revenue for every dollar of assets it owns. This represents an improvement compared to the previous quarter and is also higher than the ratios observed in some prior quarters.

Overall, while there have been fluctuations, the general trend in total asset turnover for Parker-Hannifin Corporation appears to be relatively stable, with the ratio staying within a certain range over the past few quarters. It is essential for the company to continue monitoring this ratio to ensure efficient asset utilization and sustained revenue generation.