Photronics Inc (PLAB)

Total asset turnover

		Jan 28, 2024	Oct 31, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 31, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Oct 31, 2020	Aug 2, 2020	May 3, 2020	Feb 2, 2020	Oct 31, 2019	Jul 28, 2019	Apr 28, 2019
Revenue (ttm)	US$ in thousands	907,395	894,050	874,282	878,280	850,609	851,526	816,396	771,044	716,233	674,649	638,551	618,137	603,369	609,691	616,661	596,878	585,684	550,660	539,064	537,343
Total assets	US$ in thousands	1,582,840	1,526,220	1,503,340	1,451,020	1,441,680	1,315,830	1,349,600	1,331,890	1,335,250	1,294,200	1,281,760	1,265,990	1,232,060	1,188,180	1,195,840	1,133,890	1,125,460	1,118,660	1,114,200	1,085,240
Total asset turnover		0.57	0.59	0.58	0.61	0.59	0.65	0.60	0.58	0.54	0.52	0.50	0.49	0.49	0.51	0.52	0.53	0.52	0.49	0.48	0.50

January 28, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $907,395K ÷ $1,582,840K
= 0.57

Over the past eight quarters, Photronics, Inc.'s total asset turnover has fluctuated within a relatively narrow range, ranging from 0.56 to 0.63. The total asset turnover ratio indicates how efficiently the company is generating sales revenue in relation to its total assets. A lower total asset turnover might suggest that the company is not effectively utilizing its assets to generate sales, while a higher ratio could indicate efficient asset management.

Overall, the average total asset turnover for the period appears to be approximately 0.59. This ratio implies that, on average, for every dollar of total assets, Photronics, Inc. is generating approximately $0.59 in sales revenue. Further analysis would be required to determine the reasons behind the fluctuations in the total asset turnover ratio and to assess the company's overall asset management efficiency and operational performance.