Sonos Inc (SONO)
Total asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,661,860 | 1,741,010 | 1,716,560 | 1,324,680 | 1,253,490 |
| Total assets | US$ in thousands | 1,002,240 | 1,188,390 | 1,138,800 | 816,051 | 761,605 |
| Total asset turnover | 1.66 | 1.47 | 1.51 | 1.62 | 1.65 |
September 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,661,860K ÷ $1,002,240K
= 1.66
The total asset turnover ratio for Sonos Inc has shown fluctuation over the past five years. The ratio indicates how efficiently the company is using its assets to generate revenue. In 2023, the total asset turnover ratio increased to 1.65 from 1.47 in 2022, indicating that the company generated $1.65 in sales for every dollar of assets. This improvement suggests a more efficient use of assets to generate revenue. However, it is important to note that the total asset turnover ratio is still lower than the most recent peak in 2019, when it reached 1.66. This indicates that there may be room for further improvement in asset utilization. Overall, the trend in the total asset turnover ratio suggests that Sonos Inc has been effectively managing its assets to generate revenue, but there may be opportunities for further optimization.
Peer comparison
Sep 30, 2023