AutoZone Inc (AZO)

Fixed asset turnover

		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	May 4, 2019	Feb 9, 2019
Revenue (ttm)	US$ in thousands	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	11,434,080	11,311,220
Property, plant and equipment	US$ in thousands	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	4,324,930	4,269,920
Fixed asset turnover		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	2.64	2.65

February 10, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $17,830,570K ÷ $5,907,480K
= 3.02

AutoZone Inc's fixed asset turnover ratio has shown fluctuation over the past few quarters, ranging from a low of 2.64 to a high of 3.23. Fixed asset turnover measures the company's efficiency in generating sales revenue from its investment in fixed assets. A higher ratio indicates better utilization of fixed assets to generate revenue.

The trend in AutoZone Inc's fixed asset turnover suggests that the company has been relatively efficient in utilizing its fixed assets to generate sales. However, the slight fluctuations in the ratio over the quarters may indicate variations in the company's operational efficiency or changes in its asset base.

Overall, AutoZone Inc's fixed asset turnover ratio has remained above 3 for most quarters, reflecting a consistent ability to generate revenue from its fixed assets. This indicates a healthy level of asset utilization and operational efficiency within the company's business operations.