Apogee Enterprises Inc (APOG)
Total asset turnover
| Mar 2, 2024 | Feb 25, 2023 | Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,416,940 | 1,440,700 | 1,313,980 | 1,230,770 | 1,387,440 |
| Total assets | US$ in thousands | 884,064 | 915,365 | 887,863 | 1,015,100 | 1,128,990 |
| Total asset turnover | 1.60 | 1.57 | 1.48 | 1.21 | 1.23 |
March 2, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,416,940K ÷ $884,064K
= 1.60
Over the past five years, Apogee Enterprises Inc has shown a generally improving trend in its total asset turnover ratio. The ratio has steadily increased from 1.23 in February 2020 to 1.60 in March 2024, indicating that the company has become more efficient in generating sales revenue relative to its total assets.
A total asset turnover ratio of 1.60 in March 2024 means that Apogee Enterprises Inc generated $1.60 in sales for every $1 of total assets it holds. This implies that the company is utilizing its assets effectively to generate revenue.
Overall, the increasing trend in total asset turnover suggests that the company has been able to improve its operational efficiency and asset utilization over the years, which is a positive indicator of its financial health and management effectiveness.