Seagate Technology PLC (STX)
Total asset turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,190,000 | 7,384,000 | 11,661,000 | 10,681,000 | 10,509,000 |
| Total assets | US$ in thousands | 7,739,000 | 7,556,000 | 8,944,000 | 8,675,000 | 8,930,000 |
| Total asset turnover | 0.80 | 0.98 | 1.30 | 1.23 | 1.18 |
June 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,190,000K ÷ $7,739,000K
= 0.80
The total asset turnover ratio measures how efficiently a company generates revenue from its total assets. In the case of Seagate Technology PLC, the total asset turnover has been fluctuating over the past five years.
In 2024, the total asset turnover ratio decreased to 0.80 from 0.98 in 2023. This decline indicates that Seagate generated less revenue relative to its total assets in 2024 compared to the previous year. The decrease may suggest inefficiencies in asset utilization or changes in the company's business operations.
Looking back further, the total asset turnover ratio was at its peak in 2022 at 1.30, indicating that Seagate was more efficient in generating revenue from its total assets that year. However, in 2021 and 2020, the ratio declined slightly to 1.23 and 1.18, respectively, but still remained relatively high compared to the most recent year.
Overall, Seagate's total asset turnover has shown variability over the years, potentially reflecting changes in the company's asset management strategies, sales volume, or industry dynamics. Further analysis and examination of the company's operations and market conditions would be necessary to fully understand the reasons behind these fluctuations in total asset turnover.
Peer comparison
Jun 30, 2024