Unifirst Corporation (UNF)

Total asset turnover

		Aug 31, 2024	Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020
Revenue	US$ in thousands	2,434,670	2,239,780	2,003,670	1,828,780	1,810,540
Total assets	US$ in thousands	2,696,410	2,569,980	2,427,970	2,381,060	2,199,030
Total asset turnover		0.90	0.87	0.83	0.77	0.82

August 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,434,670K ÷ $2,696,410K
= 0.90

The total asset turnover of Unifirst Corporation has exhibited a positive trend over the past five years, increasing from 0.82 in 2020 to 0.90 in 2024. This indicates that the company generated more revenue relative to its total assets in 2024 compared to the previous years. A higher total asset turnover ratio suggests that the company is utilizing its assets more efficiently to generate sales. Overall, the improving trend in total asset turnover implies that Unifirst Corporation has been effectively managing its assets to drive revenue growth.

Peer comparison

Aug 31, 2024

Company name

Symbol

Total asset turnover

Unifirst Corporation

UNF

0.90

H&R Block Inc

HRB

1.10

Service Corporation International