Apple Inc (AAPL)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 391,035,000 | 379,352,000 | 391,397,000 | 363,172,000 | 271,642,000 |
| Total assets | US$ in thousands | 364,980,000 | 352,583,000 | 352,755,000 | 351,002,000 | 323,888,000 |
| Total asset turnover | 1.07 | 1.08 | 1.11 | 1.03 | 0.84 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $391,035,000K ÷ $364,980,000K
= 1.07
The total asset turnover ratio measures how efficiently a company utilizes its assets to generate revenue. Apple Inc's total asset turnover has shown a fluctuating trend over the past five years, ranging from 0.84 to 1.11. In general, a higher total asset turnover indicates better asset utilization efficiency.
In 2024, Apple's total asset turnover stands at 1.07, suggesting that the company generated $1.07 in revenue for every dollar of assets. While marginally lower compared to the previous year, the ratio remains relatively stable.
The slight decline in total asset turnover from 2023 to 2024 may indicate a decrease in Apple's ability to generate sales from its assets efficiently. However, context from other financial metrics and external factors is necessary to fully assess the implications of this trend on the company's overall performance and competitiveness.
Peer comparison
Sep 30, 2024