Bio-Techne Corp (TECH)

Total asset turnover

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Revenue	US$ in thousands	1,159,360	1,137,170	1,094,290	917,080	1,458,180
Total assets	US$ in thousands	2,703,870	2,638,690	2,294,800	2,262,960	2,027,590
Total asset turnover		0.43	0.43	0.48	0.41	0.72

June 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,159,360K ÷ $2,703,870K
= 0.43

Bio-Techne Corp's total asset turnover has exhibited fluctuations over the past five years, ranging from 0.41 to 0.72. Total asset turnover measures the efficiency with which the company generates sales from its total assets. A higher ratio indicates that the company is generating more sales relative to its asset base.

In 2020, the total asset turnover was at its peak of 0.72, suggesting that Bio-Techne Corp efficiently utilized its assets to generate sales. However, there was a significant decrease in 2021 to 0.41, indicating a decline in asset efficiency in that year.

The ratio remained consistent at 0.43 in both 2023 and 2024, reflecting stable asset utilization levels during those periods. The slight increase to 0.48 in 2022 suggests improved efficiency in generating sales from assets compared to the previous year.

Overall, Bio-Techne Corp's total asset turnover ratios demonstrate varying levels of asset efficiency over the five-year period, with fluctuations that may warrant further investigation into the company's asset management strategies and operational performance.