Worthington Steel Inc (WS)
Total asset turnover
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,431,528 | 3,301,228 | 3,363,828 | 3,630,468 | |||
| Total assets | US$ in thousands | 1,866,400 | 1,849,000 | 1,897,400 | 1,857,750 | — | — | — |
| Total asset turnover | 1.84 | 1.79 | 1.77 | 1.95 |
May 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,431,528K ÷ $1,866,400K
= 1.84
Worthington Steel Inc's total asset turnover has exhibited some fluctuations in recent periods. The company's total asset turnover ratio was 1.84 as of May 31, 2024, which indicates that the company generated $1.84 in sales for every dollar of assets during that period.
Comparing this to the previous periods, we see a general trend of variability in total asset turnover, with ratios ranging from 1.77 to 1.95. This suggests that Worthington Steel's efficiency in utilizing its assets to generate sales has been somewhat inconsistent.
A total asset turnover ratio above 1 indicates that the company is effectively leveraging its assets to generate sales. While Worthington Steel's recent total asset turnover ratios have been above 1, the fluctuations suggest that the company may need to focus on optimizing its asset utilization to ensure more consistent performance in this area. Further analysis, including comparisons with industry peers and trend analysis, may provide additional insights into the company's asset management efficiency.
Peer comparison
May 31, 2024