Spire Inc (SR)

Total asset turnover

		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	Dec 31, 2019
Revenue (ttm)	US$ in thousands	2,542,400	2,510,800	2,468,500	2,416,200	2,524,200	2,541,800	2,588,700	2,365,900	2,078,700	2,060,900	1,943,100	2,168,800	2,128,900	2,093,600	2,087,400	1,696,600	1,749,900	1,748,800	1,775,400	1,890,600
Total assets	US$ in thousands	10,860,700	10,710,900	10,711,400	10,631,700	10,313,600	10,037,500	10,049,000	10,327,700	10,083,700	9,783,900	9,401,300	9,650,500	9,356,400	8,893,300	8,936,800	8,515,600	8,241,200	7,822,600	8,018,000	7,961,000
Total asset turnover		0.23	0.23	0.23	0.23	0.24	0.25	0.26	0.23	0.21	0.21	0.21	0.22	0.23	0.24	0.23	0.20	0.21	0.22	0.22	0.24

September 30, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,542,400K ÷ $10,860,700K
= 0.23

The total asset turnover ratio for Spire Inc has remained relatively stable over the past several quarters, ranging from 0.20 to 0.26. This ratio indicates that, on average, the company generates approximately 0.23 times in revenue for every dollar of total assets it holds.

A total asset turnover ratio of less than 1 typically suggests that the company is not efficiently utilizing its assets to generate sales. In the case of Spire Inc, the consistent range of around 0.23 indicates that the company may not be maximizing the revenue potential of its total assets. This could be due to various factors such as underutilized assets, ineffective asset management, or lower sales relative to the value of assets.

To further assess the efficiency of Spire Inc in utilizing its total assets, it would be beneficial to compare this ratio with industry peers or historical performance. Additionally, conducting a detailed analysis of the company's asset management practices and revenue generation strategies could provide insights into areas for potential improvement.