Worthington Industries Inc (WOR)
Total asset turnover
| Aug 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 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,972,901 | 2,944,453 | 2,974,013 | 3,062,633 | 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 | 3,059,119 | 3,386,334 | 3,496,719 | 3,627,308 |
| Total assets | US$ in thousands | 1,645,270 | 1,704,690 | 3,584,140 | 3,476,690 | 3,650,920 | 3,497,670 | 3,390,660 | 3,510,140 | 3,643,020 | 3,738,160 | 3,517,630 | 3,547,760 | 3,373,240 | 3,137,870 | 3,027,380 | 3,131,050 | 2,331,520 | 2,429,080 | 2,408,960 | 2,382,630 |
| Total asset turnover | 1.20 | 1.73 | 0.83 | 0.88 | 1.14 | 1.27 | 1.62 | 1.58 | 1.44 | 1.26 | 1.16 | 1.01 | 0.94 | 0.89 | 0.93 | 0.93 | 1.31 | 1.39 | 1.45 | 1.52 |
August 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,972,901K ÷ $1,645,270K
= 1.20
The total asset turnover ratio for Worthington Industries Inc fluctuated over the past few years, indicating varying efficiency in utilizing its assets to generate sales. The ratio ranged from a low of 0.83 in November 2023 to a high of 1.73 in February 2024. Generally, a higher total asset turnover ratio is preferred as it signifies that the company is generating more sales relative to its total assets.
In the recent periods, there seems to be an improvement in the total asset turnover ratio, with values above 1.0 indicating that Worthington Industries Inc is generating more in sales compared to the total value of its assets. This improvement suggests increased efficiency in asset utilization and potentially better revenue generation or cost management.
It is important for the company to sustain or further improve its total asset turnover ratio to enhance profitability and shareholder value by effectively utilizing its assets to generate revenue. Continued monitoring and analysis of this ratio will be crucial for assessing the company's operational efficiency and financial performance.
Peer comparison
Aug 31, 2024