Standex International Corporation (SXI)
Total asset turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 720,909 | 797,947 | 729,921 | 636,329 | 604,535 |
| Total assets | US$ in thousands | 1,005,060 | 1,024,930 | 934,439 | 962,223 | 930,878 |
| Total asset turnover | 0.72 | 0.78 | 0.78 | 0.66 | 0.65 |
June 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $720,909K ÷ $1,005,060K
= 0.72
Standex International Corporation's total asset turnover has exhibited some fluctuations over the past five years. The ratio measures how efficiently the company generates sales from its total assets.
In 2024, the total asset turnover decreased to 0.72 from 0.78 in 2023 and 2022, indicating that the company generated less revenue relative to its total assets. This decline may be a cause for concern as it suggests that Standex International Corporation may be less efficient in utilizing its assets to generate sales.
Comparing 2024 to 2021 and 2020, the total asset turnover has shown an improvement from 0.66 and 0.65, respectively. This improvement could be a positive sign, indicating that the company is becoming more efficient in generating revenue from its total assets.
In conclusion, while the recent decrease in total asset turnover for Standex International Corporation raises some concerns about efficiency, the overall trend over the five-year period shows some variability, with recent years demonstrating an improvement in asset utilization for revenue generation. Additional analysis of the company's operations and financial performance may be necessary to fully understand the drivers behind these fluctuations in total asset turnover.
Peer comparison
Jun 30, 2024