Worthington Industries Inc (WOR)
Fixed asset turnover
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,153,762 | 1,154,679 | 1,166,910 | 1,979,784 | 2,915,736 | 3,825,795 | 3,855,355 | 3,943,975 | 4,159,375 | 4,450,815 | 5,482,740 | 5,540,060 | 5,242,220 | 4,700,239 | 4,081,108 | 3,579,340 | 3,171,429 | 2,804,737 | 2,809,624 | 2,906,169 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 798,691 | 779,184 | 775,621 | 784,703 | 785,671 | 787,090 | 795,109 | 792,531 | 645,262 | 641,884 | 550,118 | 560,225 | 572,324 | 585,946 |
| Fixed asset turnover | — | — | — | — | — | — | 4.83 | 5.06 | 5.36 | 5.67 | 6.98 | 7.04 | 6.59 | 5.93 | 6.32 | 5.58 | 5.76 | 5.01 | 4.91 | 4.96 |
May 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,153,762K ÷ $—K
= —
The fixed asset turnover ratio for Worthington Industries Inc. has exhibited notable fluctuations over the analyzed period, reflecting changes in the company's utilization of its fixed assets relative to sales. Starting from August 31, 2020, the ratio stood at approximately 4.96, indicating that, for every dollar invested in fixed assets, the company generated nearly five dollars in sales. Throughout the subsequent quarters, the ratio demonstrated a gradual upward trend, peaking at approximately 7.04 on August 31, 2022. This upward movement suggests an improvement in the efficiency with which the company utilized its fixed assets to generate revenue during this period.
Following the peak, a decline was observed, with the ratio decreasing to around 5.36 by May 31, 2023, and further down to approximately 4.83 by November 30, 2023. This downward trend may indicate a reduction in operational efficiency or a strategic shift in asset utilization. The ratio's overall trajectory shows periods of both expansion and contraction, with the significant increase from 2020 to mid-2022 implying better fixed asset utilization or revenue growth that outpaced asset scale. Conversely, the subsequent decline points to either increased asset base without proportional sales increases or decreased operational efficiency.
Data after November 2023 is not available for a comprehensive analysis beyond that point. Overall, the pattern reflects a period of rising efficiency in fixed asset utilization through 2022, followed by a moderate decline into late 2023.
Peer comparison
May 31, 2025