Spire Inc (SR)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,480,600 | 2,078,700 | 2,128,900 | 1,749,900 | 1,848,000 |
| Total assets | US$ in thousands | 10,313,600 | 10,083,700 | 9,356,400 | 8,241,200 | 7,619,200 |
| Total asset turnover | 0.24 | 0.21 | 0.23 | 0.21 | 0.24 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,480,600K ÷ $10,313,600K
= 0.24
The total asset turnover ratio for Spire Inc. has fluctuated over the past five years, ranging from 0.22 to 0.26. This ratio measures the efficiency of the company in generating sales revenue relative to its total assets. A higher ratio indicates better utilization of assets to generate sales.
The increase in the total asset turnover from 2022 to 2023 suggests improved efficiency in generating sales relative to the total assets. However, it is important to note that the ratio has fluctuated and does not show a consistent trend. Therefore, further analysis of the company's asset management and sales generation strategies would be needed to determine the underlying factors contributing to these fluctuations.
Peer comparison
Sep 30, 2023