Sprouts Farmers Market LLC (SFM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,830,890 | 6,395,180 | 6,088,180 | 6,453,970 | 5,613,640 |
| Total assets | US$ in thousands | 3,327,430 | 3,070,380 | 2,923,120 | 2,806,400 | 2,722,980 |
| Total asset turnover | 2.05 | 2.08 | 2.08 | 2.30 | 2.06 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,830,890K ÷ $3,327,430K
= 2.05
Total asset turnover is a key ratio that measures a company's efficiency in generating revenue from its total assets. In the case of Sprouts Farmers Market Inc, the total asset turnover has fluctuated over the past five years.
In 2023, the total asset turnover was 2.05, a slight decrease from the previous year's 2.09. This indicates that the company generated $2.05 in revenue for every dollar of total assets in 2023. While the slight decrease may suggest a lower efficiency in asset utilization compared to the prior year, it is important to assess the trend over multiple years to draw more meaningful conclusions.
Looking back further, the total asset turnover was relatively stable in 2022 and 2019, both standing at 2.09 and 2.07, respectively. However, there was a notable increase in 2021, where the total asset turnover rose to 2.31, indicating a higher efficiency in generating revenue from total assets during that period.
Overall, the trend in Sprouts Farmers Market Inc's total asset turnover shows some variability but remains relatively strong, with the company consistently generating revenue efficiently from its total asset base. Further analysis and comparison with industry benchmarks can provide additional insights into the company's asset utilization efficiency.
Peer comparison
Dec 31, 2023