La-Z-Boy Incorporated (LZB)
Total asset turnover
| Apr 30, 2024 | Apr 27, 2024 | Apr 30, 2023 | Apr 29, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,047,030 | 2,047,030 | 2,349,430 | 2,349,430 | 2,356,810 |
| Total assets | US$ in thousands | 1,913,440 | 1,913,440 | 1,866,260 | 1,866,260 | 1,932,090 |
| Total asset turnover | 1.07 | 1.07 | 1.26 | 1.26 | 1.22 |
April 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,047,030K ÷ $1,913,440K
= 1.07
The total asset turnover of La-Z-Boy Incorporated has shown a relatively stable trend over the past few years. From April 30, 2022, to April 30, 2023, there was a slight improvement from 1.22 to 1.26, indicating that the company generated $1.26 in revenue for every $1 of total assets during that year. However, in the following year, there was no further increase in efficiency as the total asset turnover remained at 1.26.
A notable decline occurred by April 27, 2024, where the total asset turnover decreased to 1.07, which suggests that the company was generating slightly less revenue for every dollar of total assets compared to the previous years. This trend was sustained through April 30, 2024, indicating that the company might not have been utilizing its assets as efficiently as before, possibly due to changes in operational efficiency, sales volumes, or asset management strategies.
Overall, while La-Z-Boy Incorporated's total asset turnover has fluctuated slightly in recent years, the downward trend observed in the most recent year may warrant further investigation into the factors influencing the company's asset utilization and operational performance.
Peer comparison
Apr 30, 2024