Accenture plc (ACN)

Total asset turnover

		Aug 31, 2023	Aug 31, 2022	Aug 31, 2021	Aug 31, 2020	Aug 31, 2019
Revenue	US$ in thousands	64,111,700	61,594,300	50,533,400	44,327,000	43,215,000
Total assets	US$ in thousands	51,245,300	47,263,400	43,175,800	37,078,600	29,789,900
Total asset turnover		1.25	1.30	1.17	1.20	1.45

August 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $64,111,700K ÷ $51,245,300K
= 1.25

The total asset turnover of Accenture plc has fluctuated over the past five years, with the ratio starting at 1.45 in 2019, declining to 1.20 in 2020, increasing to 1.17 in 2021, and subsequently rising to 1.30 in 2022 before decreasing again to 1.25 in 2023.

This ratio indicates the company's efficiency in generating revenue from its total assets. A higher ratio is generally preferred as it suggests that the company is effectively utilizing its assets to generate sales. The recent decline in the total asset turnover may indicate a decrease in the efficiency of asset utilization or a slowdown in revenue generation relative to the total assets.

It would be important to further investigate the reasons behind these fluctuations to assess whether they are due to changes in the business operations, asset management, or other factors. Additional analysis of the company's operational and financial performance would provide greater insight into the implications of the fluctuations in the total asset turnover ratio.