ConAgra Foods Inc (CAG)
Total asset turnover
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 12,050,900 | 11,624,600 | 12,277,000 | 11,852,600 | 11,535,900 |
| Total assets | US$ in thousands | 20,862,300 | 20,862,300 | 22,052,600 | 22,052,600 | 22,435,100 |
| Total asset turnover | 0.58 | 0.56 | 0.56 | 0.54 | 0.51 |
May 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $12,050,900K ÷ $20,862,300K
= 0.58
The total asset turnover ratio for ConAgra Foods Inc has shown a positive trend over the past few years, increasing from 0.51 in May 31, 2022, to 0.58 in May 31, 2024. This indicates that the company is generating more sales relative to its total assets, which is a positive sign of operational efficiency and effective asset utilization. A higher total asset turnover ratio suggests that ConAgra Foods is able to generate revenue more efficiently compared to its investment in assets. This improvement in asset turnover reflects positively on the company's ability to manage its assets effectively and translates into a stronger overall financial performance.
Peer comparison
May 31, 2024