Stock Analysis on Net

TJX Cos. Inc. (NYSE:TJX)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

TJX Cos. Inc., long-term (investment) activity ratios

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Net fixed asset turnover 8.25 8.63 9.21 6.38 7.83 7.42
Net fixed asset turnover (including operating lease, right-of-use asset) 3.40 3.36 3.44 2.29 2.90 7.42
Total asset turnover 1.82 1.76 1.71 1.04 1.73 2.72
Equity turnover 7.42 7.85 8.09 5.51 7.01 7.72

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

Microsoft Excel
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 3.50 3.47 3.31 3.37 3.71

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

Microsoft Excel
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 2.68 2.66 2.51 2.57 3.13

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
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

Microsoft Excel
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 0.97 0.96 0.88 0.84 0.94

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

Microsoft Excel
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 3.86 4.21 3.74 4.82 5.84

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.