Thor Industries Inc (THO)
Total asset turnover
| Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 10,053,000 | 11,027,500 | 16,228,900 | 12,221,900 | 8,056,620 |
| Total assets | US$ in thousands | 7,020,820 | 7,260,830 | 7,408,130 | 6,654,090 | 5,771,460 |
| Total asset turnover | 1.43 | 1.52 | 2.19 | 1.84 | 1.40 |
July 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $10,053,000K ÷ $7,020,820K
= 1.43
The total asset turnover ratio for Thor Industries Inc has fluctuated over the past five years. In 2022, the company achieved a high total asset turnover of 2.19, indicating that it generated $2.19 in revenue for every $1 of assets on its balance sheet. This suggests efficient utilization of assets to generate sales.
However, there was a significant decrease in this ratio in 2023, dropping to 1.52, before experiencing another decline to 1.43 in 2024. This downward trend may indicate potential challenges in efficiently utilizing assets to generate revenue.
Despite the recent decline, the total asset turnover ratio for Thor Industries Inc remains above 1, indicating that the company is effectively using its assets to generate sales. It will be essential for the company to closely monitor and improve this ratio to ensure optimal asset efficiency in the future.
Peer comparison
Jul 31, 2024