NVIDIA Corporation (NVDA)
Total asset turnover
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Jan 26, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 60,922,000 | 26,974,000 | 26,914,000 | 16,675,000 | 10,918,000 |
| Total assets | US$ in thousands | 65,728,000 | 41,182,000 | 44,187,000 | 28,791,000 | 17,315,000 |
| Total asset turnover | 0.93 | 0.65 | 0.61 | 0.58 | 0.63 |
January 28, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $60,922,000K ÷ $65,728,000K
= 0.93
The total asset turnover of NVIDIA Corp has shown an increasing trend over the past five years. In the most recent fiscal year ending on January 28, 2024, the company achieved a total asset turnover of 0.93, which indicates that for every dollar of total assets, NVIDIA generated $0.93 in revenue. This represents an improvement from the previous year where the total asset turnover was 0.65.
The upward trend in total asset turnover suggests that NVIDIA has been more efficient in generating revenue from its total assets, which is a positive sign of operational effectiveness. This improvement could be attributed to better management of assets, increased sales, or a combination of both.
Overall, a higher total asset turnover ratio indicates that NVIDIA is utilizing its assets more efficiently to generate sales, which is a key indicator of financial health and operational performance. The company's increasing total asset turnover ratio reflects positively on its ability to generate revenue from its asset base.
Peer comparison
Jan 28, 2024