Campbell Soup Company Common Stock (CPB)
Total asset turnover
| Jul 31, 2024 | Jul 28, 2024 | Jul 31, 2023 | Jul 30, 2023 | Jul 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 9,636,000 | 9,636,000 | 9,357,000 | 9,357,000 | 8,562,000 |
| Total assets | US$ in thousands | 15,235,000 | 15,235,000 | 12,058,000 | 12,058,000 | 11,892,000 |
| Total asset turnover | 0.63 | 0.63 | 0.78 | 0.78 | 0.72 |
July 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $9,636,000K ÷ $15,235,000K
= 0.63
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its total assets. A higher total asset turnover indicates that the company is utilizing its assets more effectively to generate revenue.
Based on the provided data for Campbell Soup Company Common Stock, the total asset turnover has fluctuated over the years. In July 2022, the total asset turnover was 0.72, indicating that the company generated $0.72 in sales for every dollar of total assets.
In the following years, the total asset turnover improved to 0.78 in both July 2023 and July 31, 2023, suggesting an increase in efficiency in asset utilization. However, there was a decline in the total asset turnover to 0.63 in both July 28, 2024 and July 31, 2024, indicating a potential decrease in sales generated per dollar of total assets.
Overall, while there have been fluctuations in Campbell Soup Company's total asset turnover over the years, the company should continue to monitor and improve its asset utilization efficiency to enhance its financial performance and profitability.
Peer comparison
Jul 31, 2024