Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Long-term Activity Ratios (Summary)
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
The financial ratios indicate varying trends in asset utilization and equity efficiency over the analyzed periods.
- Net Fixed Asset Turnover
- This ratio showed moderate stability from 2017 through 2019, fluctuating narrowly between 6.47 and 6.65. A notable increase occurred in 2020, reaching 7.8, followed by a peak in 2021 at 10.05, before declining to 7.66 in 2022. This suggests an improvement in how effectively fixed assets were used to generate sales up to 2021, with some reduction in efficiency by the last year of measurement.
- Net Fixed Asset Turnover (including operating lease, right-of-use asset)
- In contrast, when incorporating operating leases and right-of-use assets, the ratio declined significantly starting in 2020, dropping from 6.49 to 3.25, then modestly increasing to 3.69 in 2021 before decreasing again to 3.04 in 2022. This pattern implies that recognizing leases as assets affected the apparent efficiency of fixed assets and may reflect changes in accounting standards or lease capitalization impacting asset base evaluations.
- Total Asset Turnover
- The total asset turnover ratio remained relatively stable between 1.75 and 1.83 from 2017 to 2019, then dropped notably to 1.43 in 2020 and held steady through 2021, with a slight rebound to 1.53 in 2022. The decline suggests a reduction in asset efficiency at generating sales amid the calendar period around 2020, potentially reflecting operational or market challenges, with a gradual recovery thereafter.
- Equity Turnover
- Equity turnover was relatively stable from 2017 to 2019, fluctuating around 4.3 to 4.7. A marked increase was observed in 2020 and 2021, reaching 6.32 and 7.23 respectively. In 2022, this ratio soared dramatically to 45.18. Such a sharp rise in equity turnover could imply a significant decrease in equity base or a substantial increase in sales relative to equity, warranting further investigation into the company's equity structure and capital changes during this period.
Net Fixed Asset Turnover
Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | Mar 2, 2019 | Mar 3, 2018 | Feb 25, 2017 | ||
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Selected Financial Data (US$ in thousands) | |||||||
Net sales | |||||||
Property and equipment, net | |||||||
Long-term Activity Ratio | |||||||
Net fixed asset turnover1 | |||||||
Benchmarks | |||||||
Net Fixed Asset Turnover, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Net Fixed Asset Turnover, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Net Fixed Asset Turnover, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
1 2022 Calculation
Net fixed asset turnover = Net sales ÷ Property and equipment, net
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrate a declining trend over the six-year period. Starting from approximately 12.2 billion USD in February 2017, sales remained relatively stable through early 2018, with a slight decrease by March 2019. Following that, a notable downward trajectory is observed, culminating at about 7.87 billion USD by February 2022. This represents a sustained decrease of approximately 35% from the initial value, indicating potential challenges in revenue generation or market demand.
- Property and Equipment, Net
- The net value of property and equipment decreased substantially over the reviewed period. From around 1.84 billion USD in early 2017, the figure peaked slightly in 2018 before descending sharply in subsequent years. The lowest recorded value was approximately 918 million USD in February 2021, followed by a modest recovery to nearly 1.03 billion USD in February 2022. This pattern may reflect asset disposals, impairments, or a reduction in capital expenditures.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio shows a generally increasing trend until February 2021, rising from 6.65 in 2017 to a peak of 10.05 in 2021. This indicates that the company improved its efficiency in utilizing fixed assets to generate sales during this span. However, the ratio then drops to 7.66 in 2022, suggesting a decline in asset utilization efficiency in the most recent year examined. The earlier improvement could be linked to asset reductions outpacing sales declines, while the later decrease may signify difficulties in maintaining operational efficiency.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Bed Bath & Beyond Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | Mar 2, 2019 | Mar 3, 2018 | Feb 25, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net sales | |||||||
Property and equipment, net | |||||||
Operating lease assets | |||||||
Property and equipment, net (including operating lease, right-of-use asset) | |||||||
Long-term Activity Ratio | |||||||
Net fixed asset turnover (including operating lease, right-of-use asset)1 | |||||||
Benchmarks | |||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property and equipment, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
Over the analyzed periods, net sales exhibited a consistent downward trend. Starting from approximately 12.2 billion US dollars in February 2017, sales experienced slight fluctuations but generally declined each year, reaching about 7.9 billion US dollars by February 2022. This reflects a significant contraction in revenue over the five-year span.
Regarding property and equipment, net values initially showed a moderate increase from roughly 1.8 billion US dollars in 2017 to about 1.9 billion in 2018, followed by a slight decrease in 2019. A substantial increase occurred in 2020, where the net value nearly doubled to approximately 3.4 billion US dollars. Subsequently, this value decreased to around 2.5 billion in 2021 and then showed a modest rise to approximately 2.6 billion in 2022. The surge in 2020 may suggest acquisition of significant assets or capitalization of operating leases leading to recognition of right-of-use assets during this period.
The net fixed asset turnover ratio, which measures efficiency in utilizing fixed assets to generate sales, correspondingly declined sharply over the same timeframe. Beginning at around 6.65 in 2017, the ratio remained relatively steady until 2019. However, from 2020 onward, it halved to approximately 3.25 and fluctuated slightly thereafter, declining again to 3.04 by 2022. This decrease indicates a reduced efficiency in asset utilization, likely reflecting the combination of increased asset base and declining sales.
In summary, the data shows a marked reduction in sales alongside significant changes in asset levels, particularly a notable increase in property and equipment values in 2020. The decreased net fixed asset turnover ratio highlights challenges in asset efficiency during this period.
Total Asset Turnover
Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | Mar 2, 2019 | Mar 3, 2018 | Feb 25, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net sales | |||||||
Total assets | |||||||
Long-term Activity Ratio | |||||||
Total asset turnover1 | |||||||
Benchmarks | |||||||
Total Asset Turnover, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Total Asset Turnover, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Total Asset Turnover, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
1 2022 Calculation
Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited a general declining trend over the period analyzed. Starting at approximately 12.22 billion USD in early 2017, net sales remained relatively stable through 2018 and 2019, with minor fluctuations. However, a notable decrease occurred in 2020, dropping to about 11.16 billion USD, followed by sharper declines in subsequent years, reaching approximately 7.87 billion USD by early 2022. This trend indicates a significant contraction in revenue over the six-year span.
- Total Assets
- Total assets showed variability but an overall downward trajectory. Beginning with about 6.85 billion USD in 2017, assets increased slightly in 2018 before decreasing in 2019. A pronounced rise was observed in 2020, peaking at roughly 7.79 billion USD. Subsequently, total assets declined considerably in 2021 and 2022, falling to approximately 5.13 billion USD. The fluctuation suggests periods of asset acquisition followed by divestitures or devaluations.
- Total Asset Turnover Ratio
- The total asset turnover ratio demonstrated some volatility but trended downward until 2020, dropping from 1.78 in 2017 to 1.43 in 2020 and 2021. This decline suggests reduced efficiency in generating sales from assets. A modest recovery occurred in 2022 with the ratio increasing to 1.53, indicating a slight improvement in asset utilization despite the declining net sales and total asset base.
Equity Turnover
Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | Mar 2, 2019 | Mar 3, 2018 | Feb 25, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net sales | |||||||
Shareholders’ equity | |||||||
Long-term Activity Ratio | |||||||
Equity turnover1 | |||||||
Benchmarks | |||||||
Equity Turnover, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Equity Turnover, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Equity Turnover, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
1 2022 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- The net sales experienced a declining trend over the analyzed periods. Starting from approximately 12.2 billion US dollars in early 2017, sales slightly increased in 2018 but then steadily decreased each subsequent year. By early 2022, net sales had declined to roughly 7.9 billion US dollars, representing a significant decrease compared to the initial period.
- Shareholders’ Equity
- Shareholders’ equity demonstrated a general downward trend over the examined timeframe. Starting at about 2.7 billion US dollars in early 2017, it showed some fluctuations but overall decreased notably each year. This downward trajectory culminated in early 2022 with shareholders’ equity dropping to approximately 174 million US dollars, indicating a substantial erosion of equity value.
- Equity Turnover
- The equity turnover ratio fluctuated throughout the periods, displaying an overall increasing trend. Initially positioned at 4.49 in early 2017, the ratio saw minor declines and rises but significantly increased from 2020 onward. By early 2022, the ratio surged dramatically to 45.18, suggesting a sharp rise in sales relative to shareholders’ equity. This sharp increase likely reflects the substantial decline in equity rather than a proportionate increase in sales, indicating potential financial stress or changes in capital structure.