STERIS plc (STE)

Total asset turnover

		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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	5,138,700	5,000,560	4,815,270	4,777,590	4,750,690	4,680,130	4,776,670	4,773,130	4,585,062	4,247,903	3,847,857	3,407,009	3,107,519	3,056,979	3,022,316	3,003,024	3,030,895	2,976,117
Total assets	US$ in thousands	11,063,700	11,435,200	11,280,600	10,784,400	10,821,800	10,799,900	10,489,600	11,188,000	11,423,600	11,690,000	11,752,400	12,101,000	6,574,470	6,580,780	5,492,570	5,363,930	5,440,870	5,335,580	5,185,720	5,229,720
Total asset turnover		0.46	0.44	0.43	0.44	0.44	0.43	0.46	0.43	0.40	0.36	0.33	0.28	0.47	0.46	0.55	0.56	0.56	0.56

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,138,700K ÷ $11,063,700K
= 0.46

Total asset turnover is a measure of a company's efficiency in generating sales revenue from its total assets. A higher total asset turnover indicates that the company is using its assets more efficiently to generate sales.

In the case of STERIS plc, the total asset turnover has fluctuated over the periods provided in the table. The trend shows that the company's efficiency in generating sales revenue from its total assets improved initially, but then fluctuated. In more recent periods, the total asset turnover has stabilized around 0.44 to 0.46.

A total asset turnover ratio between 0.44 and 0.46 suggests that for every dollar of total assets, STERIS plc generates approximately 44 to 46 cents in sales. This implies that the company is moderately efficient in utilizing its assets to generate revenue.

It is important to note that total asset turnover should be analyzed in conjunction with other financial ratios and factors to gain a comprehensive understanding of the company's overall performance and efficiency in asset utilization.