Worthington Industries Inc (WOR)
Total asset turnover
| 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 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 3,059,119 | 3,386,334 | 3,496,719 | 3,627,308 | 3,759,556 |
| Total assets | US$ in thousands | 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 | 2,510,800 |
| Total asset turnover | 2.24 | 1.08 | 1.13 | 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 | 1.50 |
February 29, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,825,795K ÷ $1,704,690K
= 2.24
Total asset turnover measures how efficiently a company generates sales from its total assets. A higher total asset turnover ratio indicates that the company is effectively utilizing its assets to generate revenue.
In the case of Worthington Industries Inc, the total asset turnover has fluctuated over the past few quarters. The ratio has shown a general upward trend from November 2020 to February 2023, peaking at 2.24 in February 2024. This suggests that the company was able to generate $2.24 in sales for every $1 of assets during that period, reflecting efficient asset utilization.
However, in the subsequent quarters, the total asset turnover ratio decreased, reaching a low of 0.89 in February 2021. This may indicate a decline in asset efficiency during that period. Subsequently, there was some fluctuation in the ratio before a noticeable recovery in the most recent quarter, with a total asset turnover of 1.08 in November 2023.
Overall, the trend in Worthington Industries Inc's total asset turnover ratio indicates that the company has experienced fluctuations in asset efficiency over the analyzed periods. Investors and stakeholders may want to further investigate the reasons behind these fluctuations to assess the company's operational performance and future prospects.
Peer comparison
Feb 29, 2024