REX American Resources Corporation (REX)

Total asset turnover

		Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Revenue	US$ in thousands	833,384	855,000	774,802	372,664	417,700
Total assets	US$ in thousands	664,802	579,579	550,361	479,345	500,502
Total asset turnover		1.25	1.48	1.41	0.78	0.83

January 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $833,384K ÷ $664,802K
= 1.25

The total asset turnover ratio measures how efficiently a company generates revenue from its assets. A higher total asset turnover indicates that the company is utilizing its assets more effectively to generate sales.

From the data provided, we can see that REX American Resources Corporation's total asset turnover has fluctuated over the past five years. In 2024, the total asset turnover was 1.25, down from 1.48 in 2023 but still higher compared to the ratios in 2022, 2021, and 2020.

The declining trend from 2023 to 2024 could suggest a decrease in the company's efficiency in generating sales from its assets during that period. However, it's important to note that the 2024 ratio of 1.25 is still higher than the ratios in 2021 and 2020.

Overall, while there has been some variability in REX American Resources Corporation's total asset turnover ratio in recent years, the company appears to have maintained a level of efficiency in utilizing its assets to generate revenue, with fluctuations potentially attributable to changes in business operations and economic conditions.