Tractor Supply Company (TSCO)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 14,555,740 | 14,902,280 | 14,761,100 | 14,479,810 | 14,204,720 | 13,517,620 | 13,264,750 | 12,962,900 | 12,731,110 | 20,032,230 | 19,620,870 | 19,195,640 | 18,362,490 | 9,933,870 | 9,311,440 | 8,488,890 | 8,351,920 | 8,293,410 | 8,190,890 | 8,050,360 |
| Total assets | US$ in thousands | 9,188,150 | 9,205,010 | 9,032,820 | 8,848,820 | 8,489,990 | 7,911,730 | 7,869,190 | 7,686,810 | 7,767,470 | 7,745,190 | 7,687,890 | 7,359,680 | 7,049,120 | 6,860,800 | 6,611,080 | 6,002,400 | 5,289,270 | 5,429,300 | 5,312,720 | 5,437,200 |
| Total asset turnover | 1.58 | 1.62 | 1.63 | 1.64 | 1.67 | 1.71 | 1.69 | 1.69 | 1.64 | 2.59 | 2.55 | 2.61 | 2.60 | 1.45 | 1.41 | 1.41 | 1.58 | 1.53 | 1.54 | 1.48 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $14,555,740K ÷ $9,188,150K
= 1.58
Tractor Supply Company's total asset turnover has shown some variability in recent quarters. The total asset turnover ratio measures the efficiency of the company in generating sales from its total assets. A higher ratio indicates better asset utilization.
From the data provided, we observe a general decreasing trend in total asset turnover from 2019 to 2023, with some fluctuations. The ratio stood at 1.48 in March 2019, increased to 2.61 in June 2021, and then decreased to 1.58 in December 2023.
The company experienced a significant jump in total asset turnover in the middle of 2021, indicating a period of improved asset efficiency. However, the ratio has been on a downward trend since then, possibly suggesting challenges in effectively utilizing assets to generate sales.
The recent declines in total asset turnover may warrant further investigation into the company's operational efficiency, asset management practices, or changes in the business environment that could be impacting these metrics. Monitoring and analyzing changes in total asset turnover can provide valuable insights into the company's performance and efficiency in utilizing its assets.
Peer comparison
Dec 31, 2023