Patterson Companies Inc (PDCO)
Total asset turnover
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,568,270 | 6,471,470 | 6,499,400 | 5,912,070 | 5,490,010 |
| Total assets | US$ in thousands | 2,896,730 | 2,879,150 | 2,741,630 | 2,751,510 | 2,715,350 |
| Total asset turnover | 2.27 | 2.25 | 2.37 | 2.15 | 2.02 |
April 27, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,568,270K ÷ $2,896,730K
= 2.27
Patterson Companies Inc's total asset turnover has shown a varying trend over the past five years. The company's total asset turnover ratio for the most recent fiscal year (Apr 27, 2024) stands at 2.27, which indicates that for every dollar of total assets, the company generated $2.27 in revenue.
Comparing this ratio to the previous years, we can see that Patterson's total asset turnover has fluctuated within a range, with values of 2.25, 2.37, 2.15, and 2.02 for the fiscal years ending in 2023, 2022, 2021, and 2020 respectively.
The improvement in total asset turnover from 2020 to 2024 suggests that Patterson has been more effective in generating revenue from its total assets over time. A higher total asset turnover ratio indicates that the company is utilizing its assets efficiently to generate sales, which can be a positive indicator of operational performance and efficiency within the business.
However, it is essential to also consider other factors and ratios in conjunction with total asset turnover to get a comprehensive understanding of Patterson Companies Inc's overall financial health and performance.
Peer comparison
Apr 27, 2024