Tetra Tech Inc (TTEK)
Total asset turnover
| Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,179,210 | 5,065,350 | 4,915,110 | 4,831,610 | 4,507,686 | 4,149,638 | 3,845,789 | 3,540,303 | 3,504,047 | 3,493,497 | 3,402,183 | 3,301,410 | 3,205,014 | 3,067,366 | 2,979,729 | 2,958,931 | 2,992,562 | 3,079,700 | 3,194,213 | 3,185,661 |
| Total assets | US$ in thousands | 4,192,680 | 4,084,900 | 4,070,570 | 3,950,820 | 3,820,480 | 3,973,580 | 3,985,040 | 2,731,480 | 2,622,780 | 2,677,710 | 2,645,620 | 2,640,460 | 2,576,560 | 2,510,920 | 2,455,060 | 2,414,870 | 2,378,560 | 2,289,310 | 2,343,150 | 2,352,550 |
| Total asset turnover | 1.24 | 1.24 | 1.21 | 1.22 | 1.18 | 1.04 | 0.97 | 1.30 | 1.34 | 1.30 | 1.29 | 1.25 | 1.24 | 1.22 | 1.21 | 1.23 | 1.26 | 1.35 | 1.36 | 1.35 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,179,210K ÷ $4,192,680K
= 1.24
Total asset turnover is a key financial ratio that measures a company's efficiency in generating revenue with its total assets. Tetra Tech Inc's total asset turnover has shown some fluctuations over the past several quarters. The ratio has generally been above 1, indicating that the company is effectively utilizing its assets to generate sales.
The ratio was relatively stable around 1.2 for most of the periods, suggesting consistent efficiency in converting assets into revenue. There was a notable improvement in the ratio in the fourth quarter of 2022 and the first quarter of 2023, reaching levels of 1.30 and 1.34, respectively. This indicates a temporary increase in the company's ability to generate sales relative to its asset base during those periods.
In contrast, there were slight decreases in the ratio in the second and third quarters of 2023, where it dropped to 1.04 and 0.97, potentially signaling a temporary decline in efficiency in asset utilization. However, the ratio recovered and remained above 1 in subsequent quarters.
Overall, Tetra Tech Inc's total asset turnover indicates that the company has been generally efficient in deploying its assets to drive revenue generation, with some fluctuations in performance observed across different quarters.
Peer comparison
Sep 30, 2024