ConAgra Foods Inc (CAG)

Total asset turnover

		May 26, 2024	May 28, 2023	May 29, 2022	May 30, 2021	May 31, 2020
Revenue	US$ in thousands	11,624,600	11,852,600	11,195,600	10,778,800	10,550,500
Total assets	US$ in thousands	20,862,300	22,052,600	22,435,100	22,195,600	22,304,000
Total asset turnover		0.56	0.54	0.50	0.49	0.47

May 26, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $11,624,600K ÷ $20,862,300K
= 0.56

The total asset turnover ratio for ConAgra Foods Inc has been gradually increasing over the past five years, indicating an improvement in the company's efficiency in generating sales from its total assets. In the most recent fiscal year ending on May 26, 2024, the total asset turnover ratio stood at 0.56, representing a higher level of asset utilization compared to the previous years.

This suggests that ConAgra Foods Inc has been able to generate $0.56 in revenue for every $1 of total assets held during the fiscal year. The upward trend in the total asset turnover ratio could be attributed to effective management of assets or improvements in operational efficiency. It indicates that the company is using its assets more efficiently to drive revenue growth, which can be a positive signal for investors and stakeholders.

Overall, the increasing trend in the total asset turnover ratio reflects positively on ConAgra Foods Inc's ability to optimize its asset base and generate higher sales relative to its total assets over the years.