Progress Software Corporation (PRGS)

Total asset turnover

		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	May 31, 2020	Feb 29, 2020
Revenue (ttm)	US$ in thousands	753,409	715,418	711,724	714,898	694,439	674,596	650,821	621,317	602,013	585,014	581,214	554,955	531,313	513,570	475,852	453,747	442,150	436,803	433,820	433,432
Total assets	US$ in thousands	2,526,970	1,619,880	1,586,380	1,547,770	1,602,780	1,597,470	1,601,880	1,643,610	1,411,480	1,346,290	1,354,580	1,353,120	1,363,540	1,275,490	1,239,990	1,027,060	1,041,780	919,468	895,602	890,182
Total asset turnover		0.30	0.44	0.45	0.46	0.43	0.42	0.41	0.38	0.43	0.43	0.43	0.41	0.39	0.40	0.38	0.44	0.42	0.48	0.48	0.49

November 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $753,409K ÷ $2,526,970K
= 0.30

Progress Software Corporation's total asset turnover has shown some fluctuations over the past few years. The ratio, which indicates how efficiently the company is using its assets to generate revenue, ranged from a low of 0.30 on November 30, 2024, to a high of 0.49 on February 29, 2020.

It is important to note that a higher total asset turnover ratio is generally preferred as it suggests that the company is generating more revenue per dollar of assets. The company experienced a declining trend from mid-2021 to early 2022, with the ratio dropping to 0.38 in May 31, 2021, before starting to improve slightly.

Overall, the total asset turnover ratio for Progress Software Corporation has remained relatively stable in recent periods, hovering around the 0.40 to 0.45 range. Further analysis of the company's operational efficiency and asset management practices may provide valuable insights into the reasons behind these fluctuations and potential areas for improvement.