Unifirst Corporation (UNF)
Total asset turnover
| Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 25, 2019 | Feb 23, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,365,112 | 2,318,618 | 2,239,785 | 2,119,703 | 2,061,428 | 2,003,673 | 1,951,889 | 1,904,995 | 1,868,175 | 1,828,779 | 1,791,680 | 1,773,258 | 1,789,406 | 1,809,749 | 1,860,727 | 1,870,168 | 1,842,887 | 1,815,402 | 1,769,844 | 1,741,215 |
| Total assets | US$ in thousands | 2,620,950 | 2,602,050 | 2,569,980 | 2,454,320 | 2,450,750 | 2,427,970 | 2,410,820 | 2,412,600 | 2,397,510 | 2,381,060 | 2,335,920 | 2,275,760 | 2,234,160 | 2,199,030 | 2,153,270 | 2,152,860 | 2,123,580 | 2,047,320 | 1,981,300 | 1,954,110 |
| Total asset turnover | 0.90 | 0.89 | 0.87 | 0.86 | 0.84 | 0.83 | 0.81 | 0.79 | 0.78 | 0.77 | 0.77 | 0.78 | 0.80 | 0.82 | 0.86 | 0.87 | 0.87 | 0.89 | 0.89 | 0.89 |
February 24, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,365,112K ÷ $2,620,950K
= 0.90
The total asset turnover ratio of Unifirst Corporation has shown a fluctuating trend over the past few years. The ratio ranged between 0.77 to 0.90 during the past 20 quarters.
The total asset turnover ratio measures how efficiently a company is utilizing its assets to generate revenue. A higher ratio indicates that the company is generating more revenue per dollar of assets, reflecting a more efficient utilization of its assets. Conversely, a lower ratio suggests inefficiency in asset utilization.
Based on the data provided, Unifirst Corporation's total asset turnover ratio has generally remained within a relatively narrow range, hovering between 0.77 and 0.90. This suggests that the company has been moderately efficient in generating revenue from its assets over the analyzed period.
It is essential for the company to monitor this ratio consistently. Any significant deviations from the historical range could indicate potential changes in the efficiency of asset utilization, which may require further investigation and management attention to ensure sustainable business operations.
Peer comparison
Feb 24, 2024