Best Buy Co. Inc (BBY)
Total asset turnover
| Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 43,452,000 | 43,541,000 | 44,372,000 | 45,118,000 | 46,298,000 | 47,928,000 | 49,251,000 | 50,771,000 | 51,761,000 | 52,333,000 | 52,276,000 | 50,337,000 | 47,262,000 | 45,521,000 | 43,432,000 | 43,058,000 | 43,638,000 | 43,243,000 | 43,069,000 | 42,912,000 |
| Total assets | US$ in thousands | 14,967,000 | 16,882,000 | 15,318,000 | 14,688,000 | 15,803,000 | 17,021,000 | 15,419,000 | 15,251,000 | 17,504,000 | 20,102,000 | 18,579,000 | 17,705,000 | 19,067,000 | 21,202,000 | 17,412,000 | 15,605,000 | 15,591,000 | 16,926,000 | 14,978,000 | 14,550,000 |
| Total asset turnover | 2.90 | 2.58 | 2.90 | 3.07 | 2.93 | 2.82 | 3.19 | 3.33 | 2.96 | 2.60 | 2.81 | 2.84 | 2.48 | 2.15 | 2.49 | 2.76 | 2.80 | 2.55 | 2.88 | 2.95 |
February 3, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $43,452,000K ÷ $14,967,000K
= 2.90
Total asset turnover is a key financial ratio that indicates how efficiently a company is utilizing its assets to generate sales. Best Buy Co. Inc's total asset turnover has shown variability over the past few quarters, ranging from a low of 2.15 to a high of 3.33.
A total asset turnover ratio of 2.90 in Feb 3, 2024, suggests that Best Buy generated $2.90 in revenue for every $1 of assets during that period. This indicates a relatively efficient use of assets to generate sales.
The trend in total asset turnover ratios fluctuates within a range, indicating that there have been fluctuations in the company's ability to generate sales relative to its asset base. It is important to track this ratio over time to assess the company's operational efficiency and asset utilization.