Starbucks Corporation (SBUX)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 35,975,600 | 32,250,300 | 29,060,600 | 23,518,000 | 26,508,600 |
| Total assets | US$ in thousands | 29,445,500 | 27,978,400 | 31,392,600 | 29,374,500 | 19,219,600 |
| Total asset turnover | 1.22 | 1.15 | 0.93 | 0.80 | 1.38 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $35,975,600K ÷ $29,445,500K
= 1.22
The total asset turnover ratio for Starbucks Corporation has shown fluctuations over the past five years. In 2023, the total asset turnover ratio improved to 1.22, indicating that the company generated $1.22 in sales for every $1 of assets. This represents an increase from the previous year, where the ratio was at 1.15.
The trend over the five-year period shows that in 2021 and 2020, the total asset turnover was below 1, indicating that the company was not efficiently utilizing its assets to generate revenue. However, in 2019, the ratio was notably high at 1.38, suggesting that Starbucks was efficient in utilizing its assets to drive sales.
Overall, the improvement in the total asset turnover ratio in 2023 is a positive sign of enhanced asset efficiency for Starbucks Corporation compared to the previous year. Efficient asset turnover is crucial for driving revenue and profitability in the company's operations.
Peer comparison
Sep 30, 2023