Total Asset Turnover
since 2005
Calculation
TJX Cos. Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Jan 31, 2026 | 1.69 | = | 60,372) | ÷ | 35,767) |
| Feb 1, 2025 | 1.78 | = | 56,360) | ÷ | 31,749) |
| Feb 3, 2024 | 1.82 | = | 54,217) | ÷ | 29,747) |
| Jan 28, 2023 | 1.76 | = | 49,936) | ÷ | 28,349) |
| Jan 29, 2022 | 1.71 | = | 48,550) | ÷ | 28,461) |
| Jan 30, 2021 | 1.04 | = | 32,137) | ÷ | 30,814) |
| Feb 1, 2020 | 1.73 | = | 41,717) | ÷ | 24,145) |
| Feb 2, 2019 | 2.72 | = | 38,973) | ÷ | 14,326) |
| Feb 3, 2018 | 2.55 | = | 35,865) | ÷ | 14,058) |
| Jan 28, 2017 | 2.58 | = | 33,184) | ÷ | 12,884) |
| Jan 30, 2016 | 2.69 | = | 30,945) | ÷ | 11,499) |
| Jan 31, 2015 | 2.61 | = | 29,078) | ÷ | 11,128) |
| Feb 1, 2014 | 2.69 | = | 27,423) | ÷ | 10,201) |
| Feb 2, 2013 | 2.72 | = | 25,878) | ÷ | 9,512) |
| Jan 28, 2012 | 2.80 | = | 23,191) | ÷ | 8,282) |
| Jan 29, 2011 | 2.75 | = | 21,942) | ÷ | 7,972) |
| Jan 30, 2010 | 2.72 | = | 20,288) | ÷ | 7,464) |
| Jan 31, 2009 | 3.08 | = | 19,000) | ÷ | 6,178) |
| Jan 26, 2008 | 2.83 | = | 18,647) | ÷ | 6,600) |
| Jan 27, 2007 | 2.86 | = | 17,405) | ÷ | 6,086) |
| Jan 28, 2006 | 2.92 | = | 16,058) | ÷ | 5,496) |
| Jan 29, 2005 | 2.94 | = | 14,913) | ÷ | 5,075) |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$ in millions
The total asset turnover ratio for the period examined demonstrates considerable fluctuation. Initially, the ratio exhibited relative stability, followed by a period of decline and then significant volatility. A general observation is that the ratio decreased over much of the period, with a particularly sharp drop in recent years.
- Initial Stability (2005-2007)
- From 2005 to 2007, the total asset turnover ratio remained relatively consistent, ranging between 2.86 and 2.94. This suggests a stable relationship between net sales and total assets during these years. The slight decrease from 2.94 in 2005 to 2.86 in 2007 indicates a marginally slower rate of sales generation relative to asset investment.
- Fluctuation and Decline (2008-2017)
- The period between 2008 and 2017 saw more pronounced fluctuations. The ratio increased to 3.08 in 2009, potentially reflecting strategic asset management or a temporary surge in sales efficiency. However, it generally trended downwards, reaching a low of 2.55 in 2018. This decline suggests that the company was generating less revenue for each dollar of assets invested, potentially due to increased asset holdings or slower sales growth.
- Significant Volatility (2018-2026)
- From 2018 onwards, the total asset turnover ratio experienced substantial volatility. A notable decrease occurred in 2020, falling to 1.04, which is significantly lower than previous values. This sharp decline likely corresponds to the impact of external factors affecting sales. The ratio partially recovered in subsequent years, reaching 1.76 in 2022, but remained below the levels observed prior to 2018. The most recent values indicate a further decline, with the ratio at 1.69 in 2026.
- Recent Trend
- The most recent trend, from 2020 to 2026, shows a continued struggle to efficiently utilize assets to generate sales. While there were some improvements, the ratio has not returned to its historical levels, indicating a potential shift in the company’s operational efficiency or asset management strategy. The decline from 1.76 in 2022 to 1.69 in 2026 suggests a continuing challenge in maximizing sales relative to asset investment.
Overall, the total asset turnover ratio indicates a decreasing trend in the efficiency of asset utilization over the examined period, particularly in recent years. The significant volatility observed after 2018 warrants further investigation to understand the underlying causes and potential implications for the company’s financial performance.
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Comparison to Competitors
TJX Cos. Inc., total asset turnover, long-term trends, comparison to competitors
| TJX Cos. Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | |
|---|---|---|---|---|
| Jan 31, 2026 | 1.69 | — | 1.57 | 1.59 |
| Feb 1, 2025 | 1.78 | 0.88 | 1.66 | 1.94 |
| Feb 3, 2024 | 1.82 | 1.02 | 1.99 | 2.07 |
| Jan 28, 2023 | 1.76 | 1.09 | 2.06 | 2.22 |
| Jan 29, 2022 | 1.71 | 1.11 | 2.10 | 2.16 |
| Jan 30, 2021 | 1.04 | 1.12 | 1.87 | 1.92 |
| Feb 1, 2020 | 1.73 | 1.20 | 2.15 | 1.83 |
| Feb 2, 2019 | 2.72 | 1.25 | 2.46 | 2.07 |
| Feb 3, 2018 | 2.55 | 1.43 | 2.27 | 1.94 |
| Jan 28, 2017 | 2.58 | 1.35 | 2.20 | 1.89 |
| Jan 30, 2016 | 2.69 | 1.63 | 2.08 | 1.89 |
| Jan 31, 2015 | 2.61 | 1.64 | 2.08 | 1.77 |
| Feb 1, 2014 | 2.69 | 1.63 | 1.95 | 1.63 |
| Feb 2, 2013 | 2.72 | 1.85 | 1.82 | 1.55 |
| Jan 28, 2012 | 2.80 | 1.88 | 1.74 | 1.50 |
| Jan 29, 2011 | 2.75 | 1.90 | 1.69 | 1.45 |
| Jan 30, 2010 | 2.72 | 1.82 | 1.62 | 1.43 |
| Jan 31, 2009 | 3.08 | 1.77 | 1.73 | 1.48 |
| Jan 26, 2008 | 2.83 | 2.31 | 1.75 | 1.56 |
| Jan 27, 2007 | 2.86 | 2.29 | 1.74 | 1.69 |
| Jan 28, 2006 | 2.92 | 2.45 | 1.83 | 1.75 |
| Jan 29, 2005 | 2.94 | 2.30 | 1.88 | 1.72 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
TJX Cos. Inc., total asset turnover, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| TJX Cos. Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 31, 2026 | 1.69 | — |
| Feb 1, 2025 | 1.78 | 1.03 |
| Feb 3, 2024 | 1.82 | 1.20 |
| Jan 28, 2023 | 1.76 | 1.30 |
| Jan 29, 2022 | 1.71 | 1.33 |
| Jan 30, 2021 | 1.04 | 1.27 |
| Feb 1, 2020 | 1.73 | 1.40 |
| Feb 2, 2019 | 2.72 | 1.57 |
| Feb 3, 2018 | 2.55 | 1.71 |
| Jan 28, 2017 | 2.58 | 1.67 |
| Jan 30, 2016 | 2.69 | 1.86 |
| Jan 31, 2015 | 2.61 | 1.86 |
| Feb 1, 2014 | 2.69 | 1.80 |
| Feb 2, 2013 | 2.72 | 1.83 |
| Jan 28, 2012 | 2.80 | 1.78 |
| Jan 29, 2011 | 2.75 | 1.74 |
| Jan 30, 2010 | 2.72 | 1.68 |
| Jan 31, 2009 | 3.08 | 1.74 |
| Jan 26, 2008 | 2.83 | 1.81 |
| Jan 27, 2007 | 2.86 | 1.84 |
| Jan 28, 2006 | 2.92 | 1.92 |
| Jan 29, 2005 | 2.94 | 1.93 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Consumer Discretionary)
TJX Cos. Inc., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| TJX Cos. Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 31, 2026 | 1.69 | — |
| Feb 1, 2025 | 1.78 | 0.86 |
| Feb 3, 2024 | 1.82 | 0.93 |
| Jan 28, 2023 | 1.76 | 0.97 |
| Jan 29, 2022 | 1.71 | 0.96 |
| Jan 30, 2021 | 1.04 | 0.88 |
| Feb 1, 2020 | 1.73 | 0.84 |
| Feb 2, 2019 | 2.72 | 0.94 |
| Feb 3, 2018 | 2.55 | 0.96 |
| Jan 28, 2017 | 2.58 | 0.93 |
| Jan 30, 2016 | 2.69 | 0.96 |
| Jan 31, 2015 | 2.61 | 0.98 |
| Feb 1, 2014 | 2.69 | 1.02 |
| Feb 2, 2013 | 2.72 | 1.04 |
| Jan 28, 2012 | 2.80 | 1.06 |
| Jan 29, 2011 | 2.75 | 1.08 |
| Jan 30, 2010 | 2.72 | 1.04 |
| Jan 31, 2009 | 3.08 | 0.94 |
| Jan 26, 2008 | 2.83 | 0.96 |
| Jan 27, 2007 | 2.86 | 0.88 |
| Jan 28, 2006 | 2.92 | 0.82 |
| Jan 29, 2005 | 2.94 | 0.85 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).