Total Asset Turnover
since 2005
Calculation
Constellation Brands Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Feb 28, 2022 | 0.34 | = | 8,820,700) | ÷ | 25,855,800) |
| Feb 28, 2021 | 0.32 | = | 8,614,900) | ÷ | 27,104,800) |
| Feb 29, 2020 | 0.31 | = | 8,343,500) | ÷ | 27,323,200) |
| Feb 28, 2019 | 0.28 | = | 8,116,000) | ÷ | 29,231,500) |
| Feb 28, 2018 | 0.37 | = | 7,585,000) | ÷ | 20,538,700) |
| Feb 28, 2017 | 0.39 | = | 7,331,500) | ÷ | 18,602,400) |
| Feb 29, 2016 | 0.39 | = | 6,548,400) | ÷ | 16,965,000) |
| Feb 28, 2015 | 0.40 | = | 6,028,000) | ÷ | 15,144,500) |
| Feb 28, 2014 | 0.34 | = | 4,867,700) | ÷ | 14,302,100) |
| Feb 28, 2013 | 0.37 | = | 2,796,100) | ÷ | 7,638,100) |
| Feb 29, 2012 | 0.37 | = | 2,654,300) | ÷ | 7,109,900) |
| Feb 28, 2011 | 0.46 | = | 3,332,000) | ÷ | 7,167,600) |
| Feb 28, 2010 | 0.42 | = | 3,364,800) | ÷ | 8,094,300) |
| Feb 28, 2009 | 0.45 | = | 3,654,600) | ÷ | 8,036,500) |
| Feb 29, 2008 | 0.38 | = | 3,773,000) | ÷ | 10,052,800) |
| Feb 28, 2007 | 0.55 | = | 5,216,400) | ÷ | 9,438,200) |
| Feb 28, 2006 | 0.62 | = | 4,603,448) | ÷ | 7,400,554) |
| Feb 28, 2005 | 0.52 | = | 4,087,638) | ÷ | 7,804,172) |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28), 10-K (reporting date: 2016-02-29), 10-K (reporting date: 2015-02-28), 10-K (reporting date: 2014-02-28), 10-K (reporting date: 2013-02-28), 10-K (reporting date: 2012-02-29), 10-K (reporting date: 2011-02-28), 10-K (reporting date: 2010-02-28), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-02-29), 10-K (reporting date: 2007-02-28), 10-K (reporting date: 2006-02-28), 10-K (reporting date: 2005-02-28).
1 US$ in thousands
The total asset turnover ratio demonstrates a long-term decline in asset efficiency from 2005 to 2022, characterized by a significant expansion of the balance sheet that exceeded the growth rate of revenue generation. While net sales more than doubled over the analyzed period, the total asset base increased by more than three times, leading to a general compression of the turnover ratio.
- Initial Performance Period (2005–2007)
- Asset utilization was at its highest during this phase, with the turnover ratio peaking at 0.62 in 2006. This period was marked by steady sales growth and a relatively lean asset base.
- Volatility and Contraction (2008–2013)
- A period of instability occurred following 2007, as net sales experienced a downward trend. The asset turnover ratio fluctuated between 0.37 and 0.46, reflecting a decrease in efficiency as revenues contracted while the asset base remained relatively stagnant.
- Aggressive Asset Expansion (2014–2019)
- A structural shift is evident starting in 2014, where total assets nearly doubled in a single year, increasing from $7.6 billion to $14.3 billion. This trend of aggressive asset accumulation continued through 2019, with total assets peaking at $29.2 billion. Consequently, the turnover ratio declined steadily, reaching a period low of 0.28 in 2019, indicating that the scale of investment outpaced the immediate growth in sales.
- Recent Recovery Trend (2020–2022)
- Since 2019, a gradual improvement in asset efficiency has been observed. The turnover ratio rose from 0.28 to 0.34 by February 2022. This upward trend is attributed to continued growth in net sales occurring alongside a modest reduction in the total asset base from its 2019 peak.
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Comparison to Competitors
Constellation Brands Inc., total asset turnover, long-term trends, comparison to competitors
| Constellation Brands Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Feb 28, 2022 | 0.34 | 0.46 | 0.44 | 0.94 | 0.51 |
| Feb 28, 2021 | 0.32 | 0.41 | 0.43 | 0.86 | 0.76 |
| Feb 29, 2020 | 0.31 | 0.38 | 0.39 | 0.76 | 0.64 |
| Feb 28, 2019 | 0.28 | 0.43 | 0.40 | 0.86 | 0.70 |
| Feb 28, 2018 | 0.37 | 0.38 | 0.41 | 0.83 | 0.74 |
| Feb 28, 2017 | 0.39 | 0.40 | 0.41 | 0.80 | 0.67 |
| Feb 29, 2016 | 0.39 | 0.48 | 0.42 | 0.85 | 0.72 |
| Feb 28, 2015 | 0.40 | 0.49 | 0.47 | 0.91 | 0.79 |
| Feb 28, 2014 | 0.34 | 0.50 | 0.51 | 0.95 | 0.85 |
| Feb 28, 2013 | 0.37 | 0.52 | 0.49 | 0.86 | 0.82 |
| Feb 29, 2012 | 0.37 | 0.56 | 0.46 | 0.88 | 0.83 |
| Feb 28, 2011 | 0.46 | 0.58 | 0.58 | 0.91 | 0.88 |
| Feb 28, 2010 | 0.42 | 0.48 | 0.52 | 0.85 | 0.78 |
| Feb 28, 2009 | 0.45 | 0.64 | 0.61 | 1.08 | 0.72 |
| Feb 29, 2008 | 0.38 | 0.79 | 0.67 | 1.20 | 0.78 |
| Feb 28, 2007 | 0.55 | 0.67 | 0.55 | 1.14 | — |
| Feb 28, 2006 | 0.62 | 0.80 | 0.62 | 1.17 | — |
| Feb 28, 2005 | 0.52 | 0.79 | 0.59 | 1.03 | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28), 10-K (reporting date: 2016-02-29), 10-K (reporting date: 2015-02-28), 10-K (reporting date: 2014-02-28), 10-K (reporting date: 2013-02-28), 10-K (reporting date: 2012-02-29), 10-K (reporting date: 2011-02-28), 10-K (reporting date: 2010-02-28), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-02-29), 10-K (reporting date: 2007-02-28), 10-K (reporting date: 2006-02-28), 10-K (reporting date: 2005-02-28).
Comparison to Sector (Food, Beverage & Tobacco)
Constellation Brands Inc., total asset turnover, long-term trends, comparison to sector (food, beverage & tobacco)
| Constellation Brands Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 28, 2022 | 0.34 | 0.61 |
| Feb 28, 2021 | 0.32 | 0.60 |
| Feb 29, 2020 | 0.31 | 0.54 |
| Feb 28, 2019 | 0.28 | 0.59 |
| Feb 28, 2018 | 0.37 | 0.58 |
| Feb 28, 2017 | 0.39 | 0.56 |
| Feb 29, 2016 | 0.39 | 0.61 |
| Feb 28, 2015 | 0.40 | 0.64 |
| Feb 28, 2014 | 0.34 | 0.67 |
| Feb 28, 2013 | 0.37 | 0.65 |
| Feb 29, 2012 | 0.37 | 0.66 |
| Feb 28, 2011 | 0.46 | 0.70 |
| Feb 28, 2010 | 0.42 | 0.62 |
| Feb 28, 2009 | 0.45 | 0.74 |
| Feb 29, 2008 | 0.38 | 0.83 |
| Feb 28, 2007 | 0.55 | 0.72 |
| Feb 28, 2006 | 0.62 | 0.81 |
| Feb 28, 2005 | 0.52 | 0.76 |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28), 10-K (reporting date: 2016-02-29), 10-K (reporting date: 2015-02-28), 10-K (reporting date: 2014-02-28), 10-K (reporting date: 2013-02-28), 10-K (reporting date: 2012-02-29), 10-K (reporting date: 2011-02-28), 10-K (reporting date: 2010-02-28), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-02-29), 10-K (reporting date: 2007-02-28), 10-K (reporting date: 2006-02-28), 10-K (reporting date: 2005-02-28).
Comparison to Industry (Consumer Staples)
Constellation Brands Inc., total asset turnover, long-term trends, comparison to industry (consumer staples)
| Constellation Brands Inc. | Consumer Staples | |
|---|---|---|
| Feb 28, 2022 | 0.34 | 1.47 |
| Feb 28, 2021 | 0.32 | 1.41 |
| Feb 29, 2020 | 0.31 | 1.32 |
| Feb 28, 2019 | 0.28 | 1.39 |
| Feb 28, 2018 | 0.37 | 1.39 |
| Feb 28, 2017 | 0.39 | 1.34 |
| Feb 29, 2016 | 0.39 | 1.35 |
| Feb 28, 2015 | 0.40 | 1.37 |
| Feb 28, 2014 | 0.34 | 1.32 |
| Feb 28, 2013 | 0.37 | 1.30 |
| Feb 29, 2012 | 0.37 | 1.30 |
| Feb 28, 2011 | 0.46 | 1.27 |
| Feb 28, 2010 | 0.42 | 1.24 |
| Feb 28, 2009 | 0.45 | 1.36 |
| Feb 29, 2008 | 0.38 | 1.35 |
| Feb 28, 2007 | 0.55 | 1.32 |
| Feb 28, 2006 | 0.62 | 1.33 |
| Feb 28, 2005 | 0.52 | 1.52 |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28), 10-K (reporting date: 2016-02-29), 10-K (reporting date: 2015-02-28), 10-K (reporting date: 2014-02-28), 10-K (reporting date: 2013-02-28), 10-K (reporting date: 2012-02-29), 10-K (reporting date: 2011-02-28), 10-K (reporting date: 2010-02-28), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-02-29), 10-K (reporting date: 2007-02-28), 10-K (reporting date: 2006-02-28), 10-K (reporting date: 2005-02-28).