Flowers Foods Inc (FLO)

Total asset turnover

		Dec 31, 2023	Oct 7, 2023	Jul 15, 2023	Apr 22, 2023	Dec 31, 2022	Oct 8, 2022	Apr 23, 2022	Dec 31, 2021	Oct 9, 2021	Jul 17, 2021	Apr 24, 2021	Dec 31, 2020	Sep 30, 2020	Jul 11, 2020	Apr 18, 2020	Dec 31, 2019	Oct 5, 2019	Jul 13, 2019	Apr 20, 2019	Dec 31, 2018
Revenue (ttm)	US$ in thousands	5,090,830	5,044,470	5,003,380	5,211,260	4,660,260	4,605,390	4,464,530	4,330,770	4,370,320	4,332,170	4,340,720	4,387,990	4,282,709	4,259,620	4,209,519	4,123,979	4,086,887	4,043,775	4,009,299	3,951,849
Total assets	US$ in thousands	3,426,950	3,434,640	3,505,840	3,481,870	3,312,990	3,343,310	3,332,340	3,253,310	3,323,400	3,325,930	3,272,020	3,323,020	3,385,470	3,398,790	3,413,070	3,177,780	3,209,430	3,219,790	3,239,330	2,845,540
Total asset turnover		1.49	1.47	1.43	1.50	1.41	1.38	1.34	1.33	1.32	1.30	1.33	1.32	1.27	1.25	1.23	1.30	1.27	1.26	1.24	1.39

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,090,830K ÷ $3,426,950K
= 1.49

Flowers Foods Inc's total asset turnover has shown a relatively stable trend over the past few years. The company's total asset turnover ratio has fluctuated within a range of 1.23 to 1.50. Specifically, during the most recent reporting period, the total asset turnover ratio stood at 1.49, indicating that the company generated $1.49 in sales for every dollar of total assets it possessed.

Overall, the total asset turnover ratio suggests that Flowers Foods Inc has been effectively utilizing its assets to generate sales revenue. The company's ability to efficiently generate sales relative to its asset base is an important indicator of operational efficiency and effectiveness in utilizing its resources.