Monro Muffler Brake Inc (MNRO)
Total asset turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,258,140 | 1,309,380 | 1,335,730 | 1,098,070 | 1,228,730 |
| Total assets | US$ in thousands | 1,692,810 | 1,776,880 | 1,871,410 | 1,811,810 | 2,049,460 |
| Total asset turnover | 0.74 | 0.74 | 0.71 | 0.61 | 0.60 |
March 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,258,140K ÷ $1,692,810K
= 0.74
Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its total assets. For Monro Muffler Brake Inc, the trend in total asset turnover over the last five years has shown some fluctuation but generally indicates an improvement in asset utilization. The ratio has increased steadily from 0.60 in 2020 to 0.74 in both 2023 and 2024, suggesting that the company has become more effective in generating sales relative to its assets.
A total asset turnover ratio of 0.74 in 2024 means that Monro Muffler Brake Inc generated $0.74 in sales revenue for every $1 of assets it holds. This implies that the company's asset base has been more efficiently employed to drive sales growth. The consistent improvement in total asset turnover over the past few years reflects positively on Monro Muffler Brake Inc's operational efficiency and management of its asset base.
Overall, the increasing trend in total asset turnover for Monro Muffler Brake Inc indicates that the company has been able to enhance its ability to generate revenue using its existing asset base, which is a positive sign for investors and stakeholders.
Peer comparison
Mar 31, 2024