Woodward Inc (WWD)

Total asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	3,033,346	2,865,507	2,731,573	2,548,442	2,427,467	2,353,549	2,281,598	2,224,172	2,218,179	2,214,167	2,184,932	2,152,575	2,292,043	2,474,487	2,679,760	2,904,004	2,938,143	2,866,041	2,848,863	2,687,895
Total assets	US$ in thousands	4,130,800	4,010,200	4,009,560	4,011,530	3,894,810	3,806,450	3,755,790	3,890,540	4,035,240	4,091,000	4,088,660	4,020,770	3,959,500	3,903,340	3,906,670	4,060,280	4,007,170	3,956,530	4,015,600	3,965,950
Total asset turnover		0.73	0.71	0.68	0.64	0.62	0.62	0.61	0.57	0.55	0.54	0.53	0.54	0.58	0.63	0.69	0.72	0.73	0.72	0.71	0.68

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,033,346K ÷ $4,130,800K
= 0.73

Woodward Inc's total asset turnover has been showing a fluctuating trend over the past eight quarters. The ratio has ranged from 0.58 to 0.75, indicating the company's ability to generate sales from its total assets. Generally, a higher total asset turnover ratio is preferred as it suggests that the company efficiently utilizes its assets to generate sales.

In Woodward Inc's case, the ratio has shown an increasing trend in recent quarters, which may indicate improvements in asset utilization efficiency. However, it is essential to consider other factors like industry norms and specific business operations before drawing definitive conclusions about the company's overall performance. Further analysis and comparison with industry benchmarks would provide a more comprehensive understanding of Woodward Inc's asset utilization efficiency.