Bio-Techne Corp (TECH)

Total asset turnover

		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	Sep 30, 2019
Revenue (ttm)	US$ in thousands	1,159,360	1,137,352	1,130,708	1,131,664	1,137,169	1,125,274	1,120,378	1,117,527	1,094,290	1,064,304	1,017,313	971,607	917,080	837,177	786,479	745,873	724,111	739,941	729,495	718,184
Total assets	US$ in thousands	2,703,870	2,721,170	2,730,750	2,755,360	2,638,690	2,599,700	2,363,400	2,350,720	2,294,800	2,299,890	2,304,850	2,270,190	2,262,960	2,084,640	2,067,870	2,053,100	2,027,590	1,999,020	1,998,420	1,925,030
Total asset turnover		0.43	0.42	0.41	0.41	0.43	0.43	0.47	0.48	0.48	0.46	0.44	0.43	0.41	0.40	0.38	0.36	0.36	0.37	0.37	0.37

June 30, 2024 calculation

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

Bio-Techne Corp's total asset turnover ratio has fluctuated over the periods analyzed. The ratio indicates how efficiently the company generates revenue from its total assets. A higher turnover ratio suggests that the company is effectively utilizing its assets to generate sales.

From the data provided, it can be observed that Bio-Techne Corp's total asset turnover ratio has ranged from 0.36 to 0.48 over the past few years. The ratio has generally been between 0.40 and 0.48, indicating a moderate level of asset efficiency.

There was a notable increase in total asset turnover from December 2020 to December 2022, where the ratio peaked at 0.48. This period may indicate improved efficiency in asset utilization.

However, there was a slight decline in the ratio in the most recent periods, hovering around 0.41 to 0.43. This could suggest a slight decrease in efficiency in generating sales from total assets compared to the earlier peak.

Overall, Bio-Techne Corp's total asset turnover ratio has shown a relatively stable performance, with fluctuations within a moderate range. Further analysis and comparison with industry benchmarks could provide more insights into the company's asset utilization efficiency.