AutoZone Inc (AZO)
Fixed asset turnover
| Aug 31, 2024 | Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 18,490,300 | 17,457,200 | 16,252,200 | 14,629,600 | 12,632,000 |
| Property, plant and equipment | US$ in thousands | 6,183,540 | 5,596,550 | 5,170,420 | 4,856,890 | 4,509,220 |
| Fixed asset turnover | 2.99 | 3.12 | 3.14 | 3.01 | 2.80 |
August 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $18,490,300K ÷ $6,183,540K
= 2.99
The fixed asset turnover for AutoZone Inc has fluctuated over the past five years, ranging from 2.80 to 3.14. This ratio measures the efficiency with which the company utilizes its fixed assets to generate revenue. A higher fixed asset turnover indicates that the company is generating more revenue per dollar invested in fixed assets.
AutoZone Inc's fixed asset turnover was highest in August 2022 at 3.14, suggesting that the company was effectively utilizing its fixed assets to generate revenue during that period. However, there was a slight decrease in the ratio in the following year, dropping to 3.01 in August 2021.
The most recent data available shows a fixed asset turnover of 2.99 as of August 31, 2024. While this is slightly lower than the previous year, it is still in line with historical performance and indicates that AutoZone Inc continues to efficiently utilize its fixed assets to generate revenue.
Overall, AutoZone Inc's fixed asset turnover ratios demonstrate a consistent and relatively high level of efficiency in generating revenue from its fixed assets over the past five years.
Peer comparison
Aug 31, 2024