Toro Co (TTC)
Total asset turnover
| Feb 2, 2024 | Oct 31, 2023 | Aug 4, 2023 | Feb 3, 2023 | Oct 31, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 31, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 31, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Oct 31, 2019 | Aug 2, 2019 | May 3, 2019 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,155,572 | 4,330,332 | 4,513,330 | 4,687,980 | 4,478,917 | 4,272,115 | 4,090,565 | 3,991,095 | 3,930,922 | 3,818,221 | 3,681,069 | 3,468,487 | 3,362,350 | 3,255,772 | 3,261,817 | 3,294,455 | 3,138,084 | 2,943,008 | 2,760,116 | 2,673,360 |
| Total assets | US$ in thousands | 3,801,100 | 3,644,300 | 3,585,890 | 3,654,900 | 3,556,000 | 3,439,950 | 3,479,310 | 3,253,040 | 2,936,140 | 2,968,050 | 2,996,110 | 2,875,140 | 2,853,230 | 2,813,860 | 2,811,480 | 2,491,610 | 2,330,550 | 2,309,730 | 2,466,000 | 1,622,810 |
| Total asset turnover | 1.09 | 1.19 | 1.26 | 1.28 | 1.26 | 1.24 | 1.18 | 1.23 | 1.34 | 1.29 | 1.23 | 1.21 | 1.18 | 1.16 | 1.16 | 1.32 | 1.35 | 1.27 | 1.12 | 1.65 |
February 2, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,155,572K ÷ $3,801,100K
= 1.09
The total asset turnover ratio for Toro Co. over the past eight quarters has exhibited some variability but remained relatively stable overall. The ratio fluctuated between 1.16 and 1.32 during this period, with the highest value seen in Q3 2023 and the lowest in Q1 2024. This suggests that the company generated between $1.16 and $1.32 in revenue for every dollar of total assets it held during these quarters.
While there was no consistent increasing or decreasing trend in the total asset turnover ratio, it is notable that the ratio remained above 1 for all quarters, indicating that Toro Co. effectively utilized its assets to generate sales revenue. Overall, the company's total asset turnover performance appears to reflect a moderate level of efficiency in asset utilization throughout the periods analyzed.