SPS Commerce Inc (SPSC)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	637,765	611,823	583,798	560,618	536,910	513,963	492,788	471,550	450,875	431,613	415,014	400,375	385,276	365,828	347,498	328,532	312,630	302,055	293,426	286,382
Total assets	US$ in thousands	1,031,230	1,003,300	854,521	839,847	823,844	787,408	735,538	696,927	672,914	637,090	622,776	613,308	615,846	591,283	572,278	549,837	526,458	487,686	461,663	439,819
Total asset turnover		0.62	0.61	0.68	0.67	0.65	0.65	0.67	0.68	0.67	0.68	0.67	0.65	0.63	0.62	0.61	0.60	0.59	0.62	0.64	0.65

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $637,765K ÷ $1,031,230K
= 0.62

SPS Commerce Inc's total asset turnover ratio has fluctuated over the past few years. The ratio, which measures the efficiency of the company's asset utilization in generating sales, decreased from 0.65 as of March 31, 2020, to a low of 0.59 by December 31, 2020. However, it showed a slight improvement in the following periods, reaching a peak of 0.68 by June 30, 2023. From there, it fluctuated between 0.65 and 0.68 until the end of 2024.

Overall, SPS Commerce Inc's total asset turnover indicates that the company is able to generate sales relative to its total assets, with some variation in efficiency over time. Further analysis would be needed to understand the factors contributing to these fluctuations and assess the company's asset management strategies.