Synopsys Inc (SNPS)

Total asset turnover

		Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Revenue (ttm)	US$ in thousands	6,130,510	5,842,620	5,527,780	5,288,260	5,172,630	5,081,550	4,949,680	4,759,040	4,504,130	4,204,191	4,077,211	3,984,215	3,821,222	3,685,282	3,510,923	3,399,759	3,374,674	3,360,694	3,304,695	3,231,439
Total assets	US$ in thousands	10,558,300	10,333,100	9,923,230	9,790,730	9,565,620	9,418,090	9,329,550	9,210,380	8,901,350	8,752,260	8,485,910	8,339,560	8,012,840	8,030,060	7,663,250	7,322,470	7,202,900	6,405,160	6,153,410	6,194,220
Total asset turnover		0.58	0.57	0.56	0.54	0.54	0.54	0.53	0.52	0.51	0.48	0.48	0.48	0.48	0.46	0.46	0.46	0.47	0.52	0.54	0.52

January 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,130,510K ÷ $10,558,300K
= 0.58

Total asset turnover measures the efficiency with which Synopsys, Inc. is utilizing its assets to generate revenue. An increasing trend in total asset turnover over the quarters indicates that the company is generating more revenue from its assets.

From the data provided, total asset turnover has been relatively stable in recent quarters, ranging between 0.52 to 0.58. The variations indicate that the company is effectively utilizing its assets to generate sales.

A total asset turnover ratio of 0.58 in Q1 2024 means that for every dollar invested in assets, Synopsys generated $0.58 in revenue during that quarter. This suggests that the company is managing its assets efficiently to drive sales.

Overall, the consistent performance of total asset turnover suggests that Synopsys is effectively managing its assets to generate revenue, which is a positive indicator of the company's operational efficiency.