Worthington Industries Inc (WOR)
Total 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 |
| Total assets | US$ in thousands | 1,695,150 | 1,682,000 | 1,657,020 | 1,645,270 | 1,679,480 | 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 |
| Total asset turnover | 0.68 | 0.69 | 0.70 | 1.20 | 1.74 | 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 |
May 31, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,153,762K ÷ $1,695,150K
= 0.68
The total asset turnover ratio of Worthington Industries Inc demonstrates notable fluctuation over the observed period. Starting at 0.93 as of August 31, 2020, the ratio remains stable through November 30, 2020, indicating consistent efficiency in utilizing assets to generate sales. A slight decline to 0.89 by February 28, 2021 suggests a marginal decrease in asset utilization, which then slightly improves to 0.94 by May 31, 2021.
Significant growth begins thereafter, with the ratio rising to 1.01 on August 31, 2021, and further increasing to 1.16 by November 30, 2021. This upward trend accelerates, reaching 1.26 in February 2022 and 1.44 in May 2022, reflecting enhanced efficiency in asset utilization to generate sales. The momentum continues, with the ratio reaching 1.58 on August 31, 2022, and peaking at 1.62 in November 2022.
Subsequently, there is a decline to 1.27 as of February 28, 2023, followed by further decreases to 1.14 in May 2023 and 1.13 in August 2023. The downward trend persists through November 2023 with the ratio at 1.08. A significant spike occurs again, with the ratio rising sharply to 2.24 on February 29, 2024, before decreasing to 1.74 in May 2024 and 1.20 in August 2024. The ratio then declines sharply to 0.70 by November 2024, and further dips to 0.69 and 0.68 for February and May 2025, respectively.
Overall, the data indicates periods of strong asset utilization efficiency, notably around late 2022 and early 2024, interspersed with periods of decreased efficiency in recent years. The variable pattern may reflect changes in operational scale, strategic shifts, or cyclical industry influences affecting the company's capacity to generate sales per dollar of assets employed.
Peer comparison
May 31, 2025