AutoZone Inc (AZO)
Total asset turnover
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 17,457,200 | 16,252,200 | 14,629,600 | 12,632,000 | 11,863,700 |
| Total assets | US$ in thousands | 15,985,900 | 15,275,000 | 14,516,200 | 14,423,900 | 9,895,910 |
| Total asset turnover | 1.09 | 1.06 | 1.01 | 0.88 | 1.20 |
August 26, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $17,457,200K ÷ $15,985,900K
= 1.09
Autozone Inc.'s total asset turnover is a measure of its efficiency in generating sales revenue from its total assets. The total asset turnover ratio indicates how well a company is utilizing its assets to generate sales.
Looking at the trend in the total asset turnover ratio over the past five years, we can observe the following:
1. Aug 26, 2023: 1.09
2. Aug 27, 2022: 1.06
3. Aug 28, 2021: 1.01
4. Aug 29, 2020: 0.88
5. Aug 31, 2019: 1.20
The trend in the total asset turnover ratio indicates that Autozone Inc. has shown fluctuations over the years. From 2019 to 2020, the ratio experienced a decline from 1.20 to 0.88, indicating a decrease in its efficiency in utilizing total assets to generate sales. However, in 2021 and 2022, the ratio started to improve, reaching 1.01 and 1.06 respectively, implying better utilization of total assets to generate sales.
In 2023, the total asset turnover ratio further improved to 1.09, which suggests that Autozone Inc. has become more efficient in generating sales revenue from its total assets compared to the previous year.
Overall, the increasing trend in the total asset turnover ratio indicates that Autozone Inc. has been improving in utilizing its assets to generate sales, which may be a positive sign for the company's operational efficiency and financial performance.
Peer comparison
Aug 26, 2023