H B Fuller Company (FUL)
Total asset turnover
| Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Mar 4, 2023 | Dec 3, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,512,171 | 3,510,935 | 3,566,270 | 3,606,866 | 3,701,885 | 3,749,184 | 3,688,394 | 3,573,994 | 3,408,609 | 3,278,031 | 3,158,247 | 3,022,880 | 2,869,609 | 2,790,269 | 2,751,735 | 2,785,648 | 2,870,629 | 2,897,000 | 2,926,323 | 2,971,054 |
| Total assets | US$ in thousands | 4,681,970 | 4,723,580 | 4,659,910 | 4,618,050 | 4,535,740 | 4,463,630 | 4,571,640 | 4,620,480 | 4,641,440 | 4,274,530 | 4,258,270 | 4,266,930 | 4,113,750 | 4,036,700 | 3,981,720 | 3,979,060 | 4,025,270 | 3,985,730 | 4,032,680 | 4,149,860 |
| Total asset turnover | 0.75 | 0.74 | 0.77 | 0.78 | 0.82 | 0.84 | 0.81 | 0.77 | 0.73 | 0.77 | 0.74 | 0.71 | 0.70 | 0.69 | 0.69 | 0.70 | 0.71 | 0.73 | 0.73 | 0.72 |
March 2, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,512,171K ÷ $4,681,970K
= 0.75
H B Fuller Company's total asset turnover has fluctuated over the past few quarters but has generally remained within a narrow range. The total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate sales. A total asset turnover ratio of less than 1 suggests that the company is not generating enough revenues relative to its total assets.
The downward trend observed from the first quarter of 2021 to early 2022 may indicate a decrease in the company's ability to generate sales from its assets efficiently. However, there was a slight improvement in the total asset turnover ratio in the recent quarters, suggesting some enhancement in asset utilization to generate sales.
Overall, the total asset turnover ratio for H B Fuller Company has shown some variability but has generally been below 1, indicating potential room for improvement in asset efficiency and sales generation. It would be worthwhile for the company to focus on optimizing its asset management and operational efficiency to enhance its overall financial performance.