Total Asset Turnover
since 2005
Calculation
AutoZone Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Aug 26, 2023 | 1.09 | = | 17,457,209) | ÷ | 15,985,878) |
| Aug 27, 2022 | 1.06 | = | 16,252,230) | ÷ | 15,275,043) |
| Aug 28, 2021 | 1.01 | = | 14,629,585) | ÷ | 14,516,199) |
| Aug 29, 2020 | 0.88 | = | 12,631,967) | ÷ | 14,423,872) |
| Aug 31, 2019 | 1.20 | = | 11,863,743) | ÷ | 9,895,913) |
| Aug 25, 2018 | 1.20 | = | 11,221,077) | ÷ | 9,346,980) |
| Aug 26, 2017 | 1.18 | = | 10,888,676) | ÷ | 9,259,781) |
| Aug 27, 2016 | 1.24 | = | 10,635,676) | ÷ | 8,599,787) |
| Aug 29, 2015 | 1.26 | = | 10,187,340) | ÷ | 8,102,349) |
| Aug 30, 2014 | 1.26 | = | 9,475,313) | ÷ | 7,517,858) |
| Aug 31, 2013 | 1.33 | = | 9,147,530) | ÷ | 6,892,089) |
| Aug 25, 2012 | 1.37 | = | 8,603,863) | ÷ | 6,265,639) |
| Aug 27, 2011 | 1.38 | = | 8,072,973) | ÷ | 5,869,602) |
| Aug 28, 2010 | 1.32 | = | 7,362,618) | ÷ | 5,571,594) |
| Aug 29, 2009 | 1.28 | = | 6,816,824) | ÷ | 5,318,405) |
| Aug 30, 2008 | 1.24 | = | 6,522,705) | ÷ | 5,257,112) |
| Aug 25, 2007 | 1.28 | = | 6,169,804) | ÷ | 4,804,709) |
| Aug 26, 2006 | 1.31 | = | 5,948,355) | ÷ | 4,526,306) |
| Aug 27, 2005 | 1.35 | = | 5,710,882) | ÷ | 4,245,257) |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).
1 US$ in thousands
The financial trajectory from 2005 to 2023 reveals a consistent expansion in scale, characterized by steady growth in net sales and a significant increase in the asset base. While revenue growth remained positive throughout the period, the efficiency of asset utilization exhibited volatility, particularly during the latter stage of the timeline.
- Net Sales Trends
- Net sales demonstrated a continuous upward trajectory, increasing from approximately $5.7 billion in 2005 to over $17.4 billion by 2023. This represents a sustained growth pattern, with a notable acceleration in revenue generation occurring between 2019 and 2023.
- Total Asset Expansion
- Total assets grew from $4.2 billion in 2005 to approximately $16.0 billion in 2023. A critical shift is observed in 2020, where total assets increased sharply from $9.9 billion to $14.4 billion, indicating a substantial expansion of the balance sheet within a single fiscal year.
- Total Asset Turnover Analysis
- The asset turnover ratio experienced three distinct phases. From 2005 to 2012, the ratio remained relatively high, peaking at 1.38 in 2011, suggesting strong asset efficiency. Between 2013 and 2019, a gradual decline occurred, with the ratio stabilizing around 1.20. A significant contraction was recorded in 2020, with the ratio falling to a period low of 0.88, a direct result of assets growing at a much faster rate than net sales. Since 2021, a gradual recovery has been observed, with the ratio rising to 1.09 by 2023, although efficiency has not yet returned to pre-2020 levels.
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Comparison to Competitors
AutoZone Inc., total asset turnover, long-term trends, comparison to competitors
| AutoZone Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Aug 26, 2023 | 1.09 | 1.09 | 2.06 | 2.22 | 1.76 |
| Aug 27, 2022 | 1.06 | 1.11 | 2.10 | 2.16 | 1.71 |
| Aug 28, 2021 | 1.01 | 1.12 | 1.87 | 1.92 | 1.04 |
| Aug 29, 2020 | 0.88 | 1.20 | 2.15 | 1.83 | 1.73 |
| Aug 31, 2019 | 1.20 | 1.25 | 2.46 | 2.07 | 2.72 |
| Aug 25, 2018 | 1.20 | 1.43 | 2.27 | 1.94 | 2.55 |
| Aug 26, 2017 | 1.18 | 1.35 | 2.20 | 1.89 | 2.58 |
| Aug 27, 2016 | 1.24 | 1.63 | 2.08 | 1.89 | 2.69 |
| Aug 29, 2015 | 1.26 | 1.64 | 2.08 | 1.77 | 2.61 |
| Aug 30, 2014 | 1.26 | 1.63 | 1.95 | 1.63 | 2.69 |
| Aug 31, 2013 | 1.33 | 1.85 | 1.82 | 1.55 | 2.72 |
| Aug 25, 2012 | 1.37 | 1.88 | 1.74 | 1.50 | 2.80 |
| Aug 27, 2011 | 1.38 | 1.90 | 1.69 | 1.45 | 2.75 |
| Aug 28, 2010 | 1.32 | 1.82 | 1.62 | 1.43 | 2.72 |
| Aug 29, 2009 | 1.28 | 1.77 | 1.73 | 1.48 | 3.08 |
| Aug 30, 2008 | 1.24 | 2.31 | 1.75 | 1.56 | 2.83 |
| Aug 25, 2007 | 1.28 | 2.29 | 1.74 | 1.69 | 2.86 |
| Aug 26, 2006 | 1.31 | 2.45 | 1.83 | 1.75 | 2.92 |
| Aug 27, 2005 | 1.35 | 2.30 | 1.88 | 1.72 | 2.94 |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
AutoZone Inc., total asset turnover, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| AutoZone Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Aug 26, 2023 | 1.09 | 1.30 |
| Aug 27, 2022 | 1.06 | 1.33 |
| Aug 28, 2021 | 1.01 | 1.27 |
| Aug 29, 2020 | 0.88 | 1.40 |
| Aug 31, 2019 | 1.20 | 1.57 |
| Aug 25, 2018 | 1.20 | 1.71 |
| Aug 26, 2017 | 1.18 | 1.67 |
| Aug 27, 2016 | 1.24 | 1.86 |
| Aug 29, 2015 | 1.26 | 1.86 |
| Aug 30, 2014 | 1.26 | 1.80 |
| Aug 31, 2013 | 1.33 | 1.83 |
| Aug 25, 2012 | 1.37 | 1.78 |
| Aug 27, 2011 | 1.38 | 1.74 |
| Aug 28, 2010 | 1.32 | 1.68 |
| Aug 29, 2009 | 1.28 | 1.74 |
| Aug 30, 2008 | 1.24 | 1.81 |
| Aug 25, 2007 | 1.28 | 1.84 |
| Aug 26, 2006 | 1.31 | 1.92 |
| Aug 27, 2005 | 1.35 | 1.93 |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).
Comparison to Industry (Consumer Discretionary)
AutoZone Inc., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| AutoZone Inc. | Consumer Discretionary | |
|---|---|---|
| Aug 26, 2023 | 1.09 | 0.97 |
| Aug 27, 2022 | 1.06 | 0.96 |
| Aug 28, 2021 | 1.01 | 0.88 |
| Aug 29, 2020 | 0.88 | 0.84 |
| Aug 31, 2019 | 1.20 | 0.94 |
| Aug 25, 2018 | 1.20 | 0.96 |
| Aug 26, 2017 | 1.18 | 0.93 |
| Aug 27, 2016 | 1.24 | 0.96 |
| Aug 29, 2015 | 1.26 | 0.98 |
| Aug 30, 2014 | 1.26 | 1.02 |
| Aug 31, 2013 | 1.33 | 1.04 |
| Aug 25, 2012 | 1.37 | 1.06 |
| Aug 27, 2011 | 1.38 | 1.08 |
| Aug 28, 2010 | 1.32 | 1.04 |
| Aug 29, 2009 | 1.28 | 0.94 |
| Aug 30, 2008 | 1.24 | 0.96 |
| Aug 25, 2007 | 1.28 | 0.88 |
| Aug 26, 2006 | 1.31 | 0.82 |
| Aug 27, 2005 | 1.35 | 0.85 |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).