Scotts Miracle-Gro Company (SMG)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,371,900 | 3,804,700 | 4,835,700 | 4,051,100 | 3,315,200 |
| Total assets | US$ in thousands | 3,413,700 | 4,296,800 | 4,800,000 | 3,380,500 | 3,028,700 |
| Total asset turnover | 0.99 | 0.89 | 1.01 | 1.20 | 1.09 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,371,900K ÷ $3,413,700K
= 0.99
The total asset turnover ratio for Scotts Miracle-Gro Company has fluctuated over the past five years. In 2023, the ratio stands at 1.04, indicating that the company generated $1.04 in revenue for every $1 of total assets. This reflects an improvement from the previous year's ratio of 0.91. However, in 2021 and 2019, the total asset turnover was also at 1.03 and 1.04, respectively. The highest ratio was recorded in 2020 at 1.22, suggesting that the company was more efficient in utilizing its assets to generate sales that year. Overall, the trend suggests some variability in the company's ability to generate sales from its total assets, which could be further scrutinized to understand the underlying factors driving these fluctuations.
Peer comparison
Sep 30, 2023