H B Fuller Company (FUL)
Total asset turnover
| Dec 2, 2023 | Dec 3, 2022 | Nov 27, 2021 | Nov 28, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,510,930 | 3,749,180 | 3,278,030 | 2,790,270 | 2,897,000 |
| Total assets | US$ in thousands | 4,723,580 | 4,463,630 | 4,274,530 | 4,036,700 | 3,985,730 |
| Total asset turnover | 0.74 | 0.84 | 0.77 | 0.69 | 0.73 |
December 2, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,510,930K ÷ $4,723,580K
= 0.74
The total asset turnover of H.B. Fuller Company fluctuated over the past five years, indicating how effectively the company utilizes its assets to generate revenue. The ratio declined from 0.73 in 2019 to 0.69 in 2020 before rebounding to 0.77 in 2021. However, it decreased to 0.84 in 2022 and further to 0.74 in 2023. The declining trend may signal challenges in efficiently generating sales from its assets or an increase in the average level of assets held by the company. Further investigation into the company's operational and asset management strategies may provide insights into the fluctuations.