Simply Good Foods Co (SMPL)

Total asset turnover

		Aug 31, 2024	Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020
Revenue	US$ in thousands	1,331,320	1,242,670	1,168,680	1,005,610	816,641
Total assets	US$ in thousands	2,436,140	2,097,080	2,094,250	2,052,220	2,008,440
Total asset turnover		0.55	0.59	0.56	0.49	0.41

August 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,331,320K ÷ $2,436,140K
= 0.55

The total asset turnover for Simply Good Foods Co has fluctuated over the past five years, ranging from 0.41 in August 2020 to 0.59 in August 2023. This ratio measures the company's ability to generate sales revenue relative to its total assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate revenue.

In the most recent year, ending August 31, 2024, the total asset turnover stood at 0.55. This suggests that for every dollar of total assets the company holds, it generated $0.55 in sales. While the ratio has decreased slightly from the prior year, it remains relatively stable and indicates that Simply Good Foods Co is effectively utilizing its assets to generate revenue.

Overall, the trend in total asset turnover for Simply Good Foods Co over the past five years shows some fluctuations, but generally demonstrates the company's efficiency in generating sales revenue in relation to its total assets.