Total Asset Turnover
since 2010
Calculation
Dollar General Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Feb 2, 2024 | 1.26 | = | 38,691,609) | ÷ | 30,795,591) |
| Feb 3, 2023 | 1.30 | = | 37,844,863) | ÷ | 29,083,367) |
| Jan 28, 2022 | 1.30 | = | 34,220,449) | ÷ | 26,327,371) |
| Jan 29, 2021 | 1.30 | = | 33,746,839) | ÷ | 25,862,624) |
| Jan 31, 2020 | 1.22 | = | 27,753,973) | ÷ | 22,825,084) |
| Feb 1, 2019 | 1.94 | = | 25,625,043) | ÷ | 13,204,038) |
| Feb 2, 2018 | 1.88 | = | 23,470,967) | ÷ | 12,516,911) |
| Feb 3, 2017 | 1.88 | = | 21,986,598) | ÷ | 11,672,298) |
| Jan 29, 2016 | 1.81 | = | 20,368,562) | ÷ | 11,257,885) |
| Jan 30, 2015 | 1.68 | = | 18,909,588) | ÷ | 11,224,104) |
| Jan 31, 2014 | 1.61 | = | 17,504,167) | ÷ | 10,867,524) |
| Feb 1, 2013 | 1.55 | = | 16,022,128) | ÷ | 10,367,682) |
| Feb 3, 2012 | 1.53 | = | 14,807,188) | ÷ | 9,688,520) |
| Jan 28, 2011 | 1.37 | = | 13,035,000) | ÷ | 9,546,222) |
| Jan 29, 2010 | 1.33 | = | 11,796,380) | ÷ | 8,863,519) |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29).
1 US$ in thousands
The financial trajectory from 2010 to 2024 is characterized by consistent growth in net sales, which rose from approximately $11.8 billion to $38.7 billion. However, the efficiency of asset utilization, as measured by total asset turnover, experienced a significant structural shift after a decade of steady improvement.
- Operational Efficiency Growth (2010–2019)
- A sustained upward trend in total asset turnover was observed over this period, increasing from 1.33 in 2010 to a peak of 1.94 in 2019. This progression indicates that net sales grew at a disproportionately faster rate than the total asset base, reflecting an optimization of capital efficiency and asset productivity.
- Asset Base Expansion and Ratio Correction (2020)
- A sharp contraction in the turnover ratio occurred in 2020, falling to 1.22. This decline was driven by a substantial increase in total assets, which jumped from $13.2 billion in 2019 to $22.8 billion in 2020, significantly outpacing the growth in sales for that fiscal year.
- Stabilization Phase (2021–2024)
- From 2021 through 2024, the total asset turnover ratio remained relatively stagnant, fluctuating narrowly between 1.26 and 1.30. While net sales continued to climb to $38.7 billion, the continued expansion of the asset base to $30.8 billion prevented the ratio from returning to the high efficiency levels observed prior to 2020.
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Comparison to Competitors
Dollar General Corp., total asset turnover, long-term trends, comparison to competitors
| Dollar General Corp. | Costco Wholesale Corp. | Target Corp. | Walmart Inc. | |
|---|---|---|---|---|
| Feb 2, 2024 | 1.26 | 3.57 | 1.94 | 2.55 |
| Feb 3, 2023 | 1.30 | 3.45 | 2.05 | 2.49 |
| Jan 28, 2022 | 1.30 | 3.47 | 1.97 | 2.32 |
| Jan 29, 2021 | 1.30 | 3.24 | 1.83 | 2.20 |
| Jan 31, 2020 | 1.22 | 2.94 | 1.83 | 2.20 |
| Feb 1, 2019 | 1.94 | 3.29 | 1.83 | 2.33 |
| Feb 2, 2018 | 1.88 | 3.39 | 1.84 | 2.42 |
| Feb 3, 2017 | 1.88 | 3.47 | 1.86 | 2.42 |
| Jan 29, 2016 | 1.81 | 3.50 | 1.83 | 2.40 |
| Jan 30, 2015 | 1.68 | 3.40 | 1.75 | 2.37 |
| Jan 31, 2014 | 1.61 | 3.34 | 1.63 | 2.31 |
| Feb 1, 2013 | 1.55 | 3.40 | 1.52 | 2.29 |
| Feb 3, 2012 | 1.53 | 3.58 | 1.50 | 2.29 |
| Jan 28, 2011 | 1.37 | 3.25 | 1.54 | 2.32 |
| Jan 29, 2010 | 1.33 | 3.20 | 1.47 | 2.37 |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29).
Comparison to Sector (Consumer Staples Distribution & Retail)
Dollar General Corp., total asset turnover, long-term trends, comparison to sector (consumer staples distribution & retail)
| Dollar General Corp. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Feb 2, 2024 | 1.26 | 2.65 |
| Feb 3, 2023 | 1.30 | 2.61 |
| Jan 28, 2022 | 1.30 | 2.47 |
| Jan 29, 2021 | 1.30 | 2.32 |
| Jan 31, 2020 | 1.22 | 2.27 |
| Feb 1, 2019 | 1.94 | 2.40 |
| Feb 2, 2018 | 1.88 | 2.48 |
| Feb 3, 2017 | 1.88 | 2.48 |
| Jan 29, 2016 | 1.81 | 2.45 |
| Jan 30, 2015 | 1.68 | 2.40 |
| Jan 31, 2014 | 1.61 | 2.32 |
| Feb 1, 2013 | 1.55 | 2.28 |
| Feb 3, 2012 | 1.53 | 2.29 |
| Jan 28, 2011 | 1.37 | 2.28 |
| Jan 29, 2010 | 1.33 | 2.29 |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29).
Comparison to Industry (Consumer Staples)
Dollar General Corp., total asset turnover, long-term trends, comparison to industry (consumer staples)
| Dollar General Corp. | Consumer Staples | |
|---|---|---|
| Feb 2, 2024 | 1.26 | 1.56 |
| Feb 3, 2023 | 1.30 | 1.51 |
| Jan 28, 2022 | 1.30 | 1.47 |
| Jan 29, 2021 | 1.30 | 1.41 |
| Jan 31, 2020 | 1.22 | 1.32 |
| Feb 1, 2019 | 1.94 | 1.39 |
| Feb 2, 2018 | 1.88 | 1.39 |
| Feb 3, 2017 | 1.88 | 1.34 |
| Jan 29, 2016 | 1.81 | 1.35 |
| Jan 30, 2015 | 1.68 | 1.37 |
| Jan 31, 2014 | 1.61 | 1.32 |
| Feb 1, 2013 | 1.55 | 1.30 |
| Feb 3, 2012 | 1.53 | 1.30 |
| Jan 28, 2011 | 1.37 | 1.27 |
| Jan 29, 2010 | 1.33 | 1.24 |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29).