Flowers Foods Inc (FLO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,090,830 | 4,805,820 | 4,330,770 | 4,387,990 | 4,123,970 |
| Total assets | US$ in thousands | 3,426,950 | 3,312,990 | 3,253,310 | 3,323,020 | 3,177,780 |
| Total asset turnover | 1.49 | 1.45 | 1.33 | 1.32 | 1.30 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,090,830K ÷ $3,426,950K
= 1.49
Over the past five years, Flowers Foods Inc has shown a consistent improvement in its total asset turnover ratio, which measures how efficiently the company generates sales revenue from its total assets. The ratio has increased from 1.30 in 2019 to 1.49 in 2023, indicating that the company is utilizing its assets more effectively to generate revenue. This upward trend suggests that Flowers Foods is managing its assets efficiently and effectively in generating sales. The company's ability to generate more revenue from its assets signifies operational efficiency and effectiveness in utilizing its resources to drive sales growth. A higher total asset turnover ratio typically indicates better asset utilization and operational performance, which can lead to improved profitability and financial performance for the company.
Peer comparison
Dec 31, 2023