Worthington Steel Inc (WS)
Total asset turnover
| May 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,430,600 | 3,611,590 | 4,068,930 | 2,127,400 |
| Total assets | US$ in thousands | 1,866,400 | 1,764,360 | 2,084,030 | 1,366,650 |
| Total asset turnover | 1.84 | 2.05 | 1.95 | 1.56 |
May 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,430,600K ÷ $1,866,400K
= 1.84
Worthington Steel Inc has experienced fluctuations in its total asset turnover ratio over the past four years. The total asset turnover ratio indicates how efficiently the company is generating sales revenue from its total assets.
In May 2024, the total asset turnover ratio was 1.84, showing a decrease from the previous period. This suggests that the company's ability to generate revenue from its assets decreased during this time.
Comparing this to the ratio in August 2023, which was 2.05, we see that there was a decline in asset turnover efficiency. However, in August 2022, the ratio improved to 1.95, indicating better utilization of assets to generate revenue compared to the previous year.
The lowest total asset turnover ratio in recent years was in August 2021 at 1.56, indicating that the company was less efficient in generating sales from its assets during that period.
Overall, the trend in total asset turnover for Worthington Steel Inc shows some variability, with fluctuations in efficiency in generating revenue from its total assets over the past four years. Further analysis of the company's operational performance and asset management strategies may provide more insights into these fluctuations.
Peer comparison
May 31, 2024