Central Garden & Pet Company A (CENTA)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,310,080 | 3,338,590 | 3,303,680 | 2,695,510 | 2,383,000 |
| Total assets | US$ in thousands | 3,378,650 | 3,282,000 | 3,116,680 | 2,339,360 | 2,025,020 |
| Total asset turnover | 0.98 | 1.02 | 1.06 | 1.15 | 1.18 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,310,080K ÷ $3,378,650K
= 0.98
The total asset turnover of Central Garden & Pet Co. has exhibited a declining trend over the past five years, with a value of 0.98 as of September 30, 2023, compared to 1.18 as of September 28, 2019. This indicates that the company generated less revenue for each dollar of assets in 2023, reflecting a decrease in its ability to efficiently utilize its assets to generate sales. A decreasing total asset turnover may suggest issues such as underutilization of assets, inefficiencies in inventory management, or declining sales relative to the size of the asset base. Further investigation into the company's operational and financial strategies may be warranted to address these declining trends and improve asset utilization efficiency.
Peer comparison
Sep 30, 2023