Intuit Inc (INTU)
Total asset turnover
| Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 16,285,000 | 14,368,000 | 12,726,000 | 9,633,000 | 7,679,000 |
| Total assets | US$ in thousands | 32,132,000 | 27,780,000 | 27,734,000 | 15,516,000 | 10,931,000 |
| Total asset turnover | 0.51 | 0.52 | 0.46 | 0.62 | 0.70 |
July 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $16,285,000K ÷ $32,132,000K
= 0.51
The total asset turnover ratio for Intuit Inc has fluctuated over the past five years, indicating varying levels of efficiency in utilizing its assets to generate sales revenue. In 2024, the total asset turnover ratio decreased to 0.51 compared to the previous year, suggesting a decline in the company's ability to generate sales from its total assets. This could potentially be a cause for concern as it may indicate inefficiencies in asset utilization or a decrease in sales relative to its asset base.
In the preceding years, the total asset turnover ratio remained relatively stable, with values ranging from 0.46 to 0.70. A lower ratio, as observed in 2022, implies that Intuit Inc may not be efficiently utilizing its assets to generate revenue, potentially leading to lower overall profitability. On the other hand, a higher ratio in 2020 and 2021 indicates that the company was able to generate more sales revenue relative to its asset base during those years.
Overall, the trend in total asset turnover for Intuit Inc shows some inconsistency, highlighting the importance of closely monitoring asset utilization efficiency to ensure optimal performance and profitability.
Peer comparison
Jul 31, 2024