Plexus Corp (PLXS)

Total asset turnover

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Revenue	US$ in thousands	8,496,620	7,722,450	6,834,190	6,875,610	6,448,530
Total assets	US$ in thousands	3,321,170	3,393,220	2,461,890	2,289,850	2,000,880
Total asset turnover		2.56	2.28	2.78	3.00	3.22

September 30, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $8,496,620K ÷ $3,321,170K
= 2.56

The total asset turnover for Plexus Corp. has fluctuated over the past five years. In the most recent fiscal year ending on September 30, 2023, the total asset turnover was 1.27, indicating that the company generated $1.27 in sales for every dollar of total assets. This represents an increase from the previous year's total asset turnover of 1.12. However, compared to the fiscal year ending in 2020, the total asset turnover has declined, as it was 1.48 in that year and 1.58 in the fiscal year ending in 2019.

The declining trend in total asset turnover suggests a decrease in the efficiency of Plexus Corp.'s total asset utilization in generating sales. It would be advisable for the company to closely examine the effectiveness of its asset management and consider strategies to improve the utilization of its assets in order to boost sales and overall performance.