United Natural Foods Inc (UNFI)
Total asset turnover
| Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Aug 1, 2020 | Aug 3, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 30,138,000 | 28,858,000 | 26,755,000 | 26,303,000 | 22,127,200 |
| Total assets | US$ in thousands | 7,394,000 | 7,628,000 | 7,525,000 | 7,587,000 | 7,174,340 |
| Total asset turnover | 4.08 | 3.78 | 3.56 | 3.47 | 3.08 |
July 29, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $30,138,000K ÷ $7,394,000K
= 4.08
United Natural Foods Inc.'s total asset turnover ratio has shown a consistent upward trend over the past five years, increasing from 2.98 in 2019 to 4.09 in 2023. This indicates that the company's ability to generate sales from its total assets has been improving. The increasing ratio suggests that the company is effectively utilizing its assets to generate revenue, which can be a positive signal for investors and creditors. However, it is important to note that other factors should also be considered in conjunction with this ratio to gain a comprehensive understanding of the company's performance.
Peer comparison
Jul 29, 2023