Progress Software Corporation (PRGS)

Total asset turnover

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Revenue	US$ in thousands	694,439	602,013	531,313	442,150	413,298
Total assets	US$ in thousands	1,602,780	1,411,480	1,363,540	1,041,780	881,271
Total asset turnover		0.43	0.43	0.39	0.42	0.47

November 30, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $694,439K ÷ $1,602,780K
= 0.43

The total asset turnover for Progress Software Corp. has been fairly consistent over the past five years, with values ranging between 0.39 and 0.47. This ratio indicates the company's efficiency in generating sales revenue relative to its total assets. A higher total asset turnover is generally preferred as it suggests that the company is using its assets more efficiently to generate sales. In the case of Progress Software Corp., the ratio has hovered around 0.43 in the recent years, indicating that for every dollar of assets, the company is generating approximately $0.43 in sales. While the ratio has remained relatively stable, further analysis of the company's operational and asset management efficiency would provide a more comprehensive understanding of its performance.