Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
TJX Cos. Inc., long-term (investment) activity ratios
Based on: 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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | TJX Cos. Inc. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | TJX Cos. Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | TJX Cos. Inc. total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | TJX Cos. Inc. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover
TJX Cos. Inc., net fixed asset turnover calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net sales | 54,217) | 49,936) | 48,550) | 32,137) | 41,717) | 38,973) | |
| Net property at cost | 6,571) | 5,783) | 5,271) | 5,036) | 5,325) | 5,255) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 8.25 | 8.63 | 9.21 | 6.38 | 7.83 | 7.42 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Amazon.com Inc. | — | 2.82 | 2.75 | 2.93 | 3.41 | 3.86 | |
| Home Depot Inc. | 5.84 | 6.14 | 6.00 | 5.35 | 4.84 | 4.84 | |
| Lowe’s Cos. Inc. | 4.89 | 5.53 | 5.05 | 4.68 | 3.86 | 3.87 | |
| Net Fixed Asset Turnover, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 3.47 | 3.43 | 3.46 | 3.82 | 4.20 | |
| Net Fixed Asset Turnover, Industry | |||||||
| Consumer Discretionary | — | 3.24 | 3.18 | 2.98 | 2.99 | 3.28 | |
Based on: 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).
1 2024 Calculation
Net fixed asset turnover = Net sales ÷ Net property at cost
= 54,217 ÷ 6,571 = 8.25
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | TJX Cos. Inc. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
TJX Cos. Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net sales | 54,217) | 49,936) | 48,550) | 32,137) | 41,717) | 38,973) | |
| Net property at cost | 6,571) | 5,783) | 5,271) | 5,036) | 5,325) | 5,255) | |
| Operating lease right of use assets | 9,396) | 9,086) | 8,854) | 8,990) | 9,060) | —) | |
| Net property at cost (including operating lease, right-of-use asset) | 15,967) | 14,869) | 14,125) | 14,026) | 14,385) | 5,255) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.40 | 3.36 | 3.44 | 2.29 | 2.90 | 7.42 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Amazon.com Inc. | — | 2.08 | 2.03 | 2.17 | 2.56 | 2.87 | |
| Home Depot Inc. | 4.49 | 4.83 | 4.85 | 4.31 | 3.89 | 4.84 | |
| Lowe’s Cos. Inc. | 4.04 | 4.60 | 4.15 | 3.90 | 3.20 | 3.87 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 2.55 | 2.52 | 2.55 | 2.83 | 3.47 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Consumer Discretionary | — | 2.53 | 2.48 | 2.32 | 2.34 | 2.83 | |
Based on: 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).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Net property at cost (including operating lease, right-of-use asset)
= 54,217 ÷ 15,967 = 3.40
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | TJX Cos. Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Total Asset Turnover
TJX Cos. Inc., total asset turnover calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net sales | 54,217) | 49,936) | 48,550) | 32,137) | 41,717) | 38,973) | |
| Total assets | 29,747) | 28,349) | 28,461) | 30,814) | 24,145) | 14,326) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 1.82 | 1.76 | 1.71 | 1.04 | 1.73 | 2.72 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Amazon.com Inc. | — | 1.09 | 1.11 | 1.12 | 1.20 | 1.25 | |
| Home Depot Inc. | 1.99 | 2.06 | 2.10 | 1.87 | 2.15 | 2.46 | |
| Lowe’s Cos. Inc. | 2.07 | 2.22 | 2.16 | 1.92 | 1.83 | 2.07 | |
| Total Asset Turnover, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 1.30 | 1.33 | 1.27 | 1.40 | 1.57 | |
| Total Asset Turnover, Industry | |||||||
| Consumer Discretionary | — | 0.95 | 0.93 | 0.84 | 0.81 | 0.92 | |
Based on: 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).
1 2024 Calculation
Total asset turnover = Net sales ÷ Total assets
= 54,217 ÷ 29,747 = 1.82
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | TJX Cos. Inc. total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Equity Turnover
TJX Cos. Inc., equity turnover calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net sales | 54,217) | 49,936) | 48,550) | 32,137) | 41,717) | 38,973) | |
| Shareholders’ equity | 7,302) | 6,364) | 6,003) | 5,833) | 5,948) | 5,049) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 7.42 | 7.85 | 8.09 | 5.51 | 7.01 | 7.72 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Amazon.com Inc. | — | 2.85 | 3.52 | 3.40 | 4.13 | 4.52 | |
| Home Depot Inc. | 146.23 | 100.77 | — | 40.05 | — | — | |
| Lowe’s Cos. Inc. | — | — | — | 62.35 | 36.59 | 19.57 | |
| Equity Turnover, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 4.50 | 5.57 | 4.86 | 6.21 | 7.25 | |
| Equity Turnover, Industry | |||||||
| Consumer Discretionary | — | 3.85 | 4.15 | 3.60 | 4.40 | 5.13 | |
Based on: 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).
1 2024 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity
= 54,217 ÷ 7,302 = 7.42
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | TJX Cos. Inc. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |