Acuity Brands Inc (AYI)
Total asset turnover
| Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,913,100 | 3,981,400 | 3,461,000 | 3,326,300 | 3,672,700 |
| Total assets | US$ in thousands | 3,408,500 | 3,480,200 | 3,575,100 | 3,491,700 | 3,172,400 |
| Total asset turnover | 1.15 | 1.14 | 0.97 | 0.95 | 1.16 |
August 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,913,100K ÷ $3,408,500K
= 1.15
The total asset turnover of Acuity Brands, Inc. has fluctuated over the past five years. In 2023, the total asset turnover ratio increased to 1.16 from 1.15 in 2022, indicating that the company generated $1.16 in sales for every $1 of assets. This suggests an improvement in the efficiency of asset utilization compared to the previous year. In 2021 and 2020, the total asset turnover ratios were 0.97 and 0.95, respectively, indicating a lower level of sales generated per dollar of assets. However, in 2019, the ratio was at the same level as 2023, at 1.16, indicating a similar efficiency in asset utilization. Overall, the trend suggests that Acuity Brands, Inc. has been effectively utilizing its assets to generate sales, with some fluctuations in efficiency over the period.
Peer comparison
Aug 31, 2023