Ross Stores Inc (ROST)

Total asset turnover

		Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020
Revenue	US$ in thousands	20,541,100	18,693,000	18,841,900	12,208,200	16,057,200
Total assets	US$ in thousands	14,300,100	13,416,500	13,640,300	12,717,900	9,348,370
Total asset turnover		1.44	1.39	1.38	0.96	1.72

February 3, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $20,541,100K ÷ $14,300,100K
= 1.44

The total asset turnover of Ross Stores Inc has shown an increasing trend over the past five years, with a value of 1.44 in Feb 3, 2024, compared to 1.39 in Jan 28, 2023, and 1.38 in Jan 29, 2022. This indicates that the company generated $1.44 in revenue for every $1 of total assets in 2024, reflecting an improvement in efficiency in utilizing its assets to generate sales.

The fluctuation in total asset turnover from 0.96 in Jan 30, 2021 to 1.72 in Feb 1, 2020 highlights some variability in the company's asset utilization efficiency. It is important to note that a higher total asset turnover ratio generally indicates better asset management and sales generation efficiency.

Overall, the upward trend in total asset turnover for Ross Stores Inc suggests an improvement in the company's ability to generate revenue from its total assets, which may be a positive indicator of operational performance and efficiency.