Grocery Outlet Holding Corp (GO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,943,260 | 3,558,750 | 3,066,320 | 3,116,180 | 2,508,820 |
| Total assets | US$ in thousands | 2,969,590 | 2,772,400 | 2,669,810 | 2,485,620 | 2,185,530 |
| Total asset turnover | 1.33 | 1.28 | 1.15 | 1.25 | 1.15 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,943,260K ÷ $2,969,590K
= 1.33
Total asset turnover measures how efficiently a company generates revenue from its assets. Grocery Outlet Holding Corp's total asset turnover has been fluctuating over the past five years, ranging from 1.15 to 1.33. In 2023, the total asset turnover reached 1.33, indicating that the company generated $1.33 in revenue for every $1 of assets. This increase from the previous year suggests that the company has improved its asset utilization efficiency. However, it is worth noting that the ratio has varied in recent years, indicating some volatility in the company's ability to efficiently use its assets to generate sales.
Peer comparison
Dec 31, 2023