Ross Stores Inc (ROST)

Total asset turnover

		Feb 3, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019
Revenue (ttm)	US$ in thousands	20,541,060	19,703,320	19,303,440	18,903,660	18,692,980	18,458,850	18,446,360	18,660,290	18,841,920	18,069,620	17,239,590	15,109,180	12,448,160	12,634,370	12,762,120	14,090,910	16,057,180	15,753,150	15,452,190	15,206,860
Total assets	US$ in thousands	14,300,100	14,270,600	13,987,300	13,618,900	13,416,500	13,100,100	13,179,900	13,233,700	13,640,300	13,915,700	13,641,400	13,395,900	12,717,900	12,570,700	11,322,200	10,728,000	9,348,370	9,415,840	9,151,950	9,049,120
Total asset turnover		1.44	1.38	1.38	1.39	1.39	1.41	1.40	1.41	1.38	1.30	1.26	1.13	0.98	1.01	1.13	1.31	1.72	1.67	1.69	1.68

February 3, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $20,541,060K ÷ $14,300,100K
= 1.44

The total asset turnover ratio of Ross Stores Inc has been fairly stable over the past several quarters, ranging between 1.26 to 1.72. This ratio indicates that, on average, the company generated $1.26 to $1.72 in revenue for every dollar of assets it held. A higher total asset turnover ratio is generally considered favorable as it suggests that the company is efficiently utilizing its assets to generate sales.

Ross Stores Inc's total asset turnover showed a significant increase from 1.13 in January 2021 to 1.72 in February 2020, which may indicate improved efficiency in asset utilization during this period. Additionally, the ratio fluctuated within a relatively narrow range, indicating consistent operational performance in terms of generating sales relative to its asset base.

Overall, Ross Stores Inc's total asset turnover ratio reflects a reasonable level of efficiency in utilizing its assets to generate revenue, suggesting effective management of its asset base.