Accenture plc (ACN)

Total asset turnover

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Revenue (ttm)	US$ in thousands	64,573,600	64,588,300	64,111,800	63,550,300	63,144,500	62,377,000	61,594,400	59,590,000	56,695,000	53,736,400	50,533,400	47,949,400	45,676,900	44,730,300	44,327,100	44,547,400	44,655,800	43,968,400	43,214,900	42,663,300
Total assets	US$ in thousands	51,307,500	51,531,400	51,245,300	50,128,300	47,727,300	47,115,800	47,263,400	46,095,200	44,317,800	43,674,700	43,175,800	42,124,900	39,985,400	38,268,300	37,078,600	35,057,300	33,503,400	33,170,700	29,789,900	28,156,400
Total asset turnover		1.26	1.25	1.25	1.27	1.32	1.32	1.30	1.29	1.28	1.23	1.17	1.14	1.14	1.17	1.20	1.27	1.33	1.33	1.45	1.52

February 29, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $64,573,600K ÷ $51,307,500K
= 1.26

The total asset turnover ratio measures a company's ability to generate sales revenue from its assets. A higher total asset turnover ratio indicates that the company is utilizing its assets more efficiently to generate sales.

Analyzing Accenture plc's total asset turnover ratio over the past few periods, we observe fluctuations in the ratio. Between Nov 30, 2019, and Aug 31, 2021, the total asset turnover ratio ranged from 1.14 to 1.33, indicating varying levels of asset efficiency during this period.

From Nov 30, 2021, to Feb 29, 2024, the total asset turnover ratio remained relatively stable, fluctuating between 1.23 and 1.32. This suggests that Accenture has maintained a consistent level of asset efficiency in generating sales revenue during this more recent period.

Overall, the total asset turnover ratio for Accenture plc has generally been above 1.0, indicating that the company has been efficient in utilizing its assets to generate sales revenue. However, it is important to consider industry benchmarks and trends to assess whether Accenture's asset turnover is competitive.