Apple Inc (AAPL)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 379,352,000 | 391,397,000 | 363,172,000 | 271,642,000 | 256,598,000 |
| Total assets | US$ in thousands | 352,583,000 | 352,755,000 | 351,002,000 | 323,888,000 | 338,516,000 |
| Total asset turnover | 1.08 | 1.11 | 1.03 | 0.84 | 0.76 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $379,352,000K ÷ $352,583,000K
= 1.08
The total asset turnover ratio measures a company's ability to generate sales from its total assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate revenue.
Looking at Apple Inc's total asset turnover over the past five years, we can observe the following trend:
- Sep 30, 2023: 1.09
- Sep 24, 2022: 1.12
- Sep 25, 2021: 1.04
- Sep 26, 2020: 0.85
- Sep 28, 2019: 0.77
The trend indicates that Apple's total asset turnover has fluctuated over the years. In 2022, the ratio was relatively high at 1.12, showing an improvement in asset utilization compared to the previous year. However, in 2023, the ratio declined to 1.09, indicating a slight decrease in efficiency in generating sales relative to the total assets.
Overall, Apple's total asset turnover has generally been above 1, indicating that the company has been efficient in utilizing its assets to generate revenue. However, the fluctuations in the ratio highlight the need for further analysis to understand the factors impacting Apple's asset utilization and sales generation efficiency.
Peer comparison
Sep 30, 2023