AutoZone Inc (AZO)
Fixed asset turnover
| Aug 31, 2024 | May 4, 2024 | Feb 10, 2024 | Nov 18, 2023 | Aug 26, 2023 | May 6, 2023 | Feb 11, 2023 | Nov 19, 2022 | Aug 27, 2022 | May 7, 2022 | Feb 12, 2022 | Nov 20, 2021 | Aug 28, 2021 | May 8, 2021 | Feb 13, 2021 | Nov 21, 2020 | Aug 29, 2020 | May 9, 2020 | Nov 23, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 18,490,270 | 17,975,510 | 17,830,570 | 17,662,420 | 17,457,210 | 17,114,950 | 16,889,630 | 16,568,400 | 16,252,230 | 15,817,350 | 15,603,150 | 15,144,220 | 14,629,580 | 14,262,070 | 13,390,350 | 13,272,570 | 14,106,750 | 12,343,790 | 12,015,060 | 11,863,750 |
| Property, plant and equipment | US$ in thousands | 6,183,540 | 6,049,060 | 5,907,480 | 5,713,160 | 5,596,550 | 5,334,020 | 5,236,130 | 5,194,550 | 5,170,420 | 4,971,630 | 4,879,080 | 4,857,930 | 4,856,890 | 4,683,150 | 4,627,990 | 4,586,000 | 4,509,220 | 4,384,590 | 4,450,660 | 4,398,750 |
| Fixed asset turnover | 2.99 | 2.97 | 3.02 | 3.09 | 3.12 | 3.21 | 3.23 | 3.19 | 3.14 | 3.18 | 3.20 | 3.12 | 3.01 | 3.05 | 2.89 | 2.89 | 3.13 | 2.82 | 2.70 | 2.70 |
August 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $18,490,270K ÷ $6,183,540K
= 2.99
AutoZone Inc's fixed asset turnover ratio has shown fluctuation over the period analyzed, ranging from 2.70 to 3.23. The ratio measures the company's efficiency in generating sales revenue from its investment in fixed assets. A higher fixed asset turnover indicates better utilization of fixed assets to generate sales.
The company's fixed asset turnover has generally been above 3, indicating that AutoZone Inc has been effective in utilizing its fixed assets to generate sales. The ratio peaked at 3.23 in the fiscal quarter ending February 11, 2023, suggesting a high level of efficiency in asset utilization during that period.
However, there have been instances where the fixed asset turnover ratio dipped below 3, such as in the fiscal quarters ending November 23, 2019, and August 29, 2020. This could imply a temporary decrease in efficiency in generating sales from fixed assets during those periods.
Overall, AutoZone Inc's fixed asset turnover ratio demonstrates a relatively consistent performance in effectively leveraging its fixed assets to generate revenue, with some fluctuations observed over the analyzed period.
Peer comparison
Aug 31, 2024