Analysis of Geographic Areas
Best Buy Co. Inc. operates in 3 regions: U.S.; Canada; and Other.
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- Balance Sheet: Assets
- Common-Size Income Statement
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Area Asset Turnover
Best Buy Co. Inc., asset turnover by geographic area
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | |
|---|---|---|---|---|---|---|
| U.S. | ||||||
| Canada | ||||||
| Other |
Based on: 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).
- U.S. Asset Turnover
- The asset turnover ratio in the U.S. region shows a generally increasing trend over the period analyzed. Starting at 17.1 in early 2017, the ratio slightly rose to 17.53 in 2018, then experienced a minor decline to 16.93 in 2019. Subsequently, the ratio increased consistently, reaching 18.66 in 2020, 20.28 in 2021, and culminating at 22.48 in 2022. This upward trajectory indicates improved efficiency in utilizing assets to generate revenue in the U.S. market over time.
- Canada Asset Turnover
- The Canadian asset turnover ratio exhibits more volatility but remains on an overall upward path. Initially at 18.58 in 2017, it declined to 16.77 in 2018, followed by a recovery to 19.96 in 2019. The ratio then steadily increased to 22.32 in 2020, then significantly jumped to 29.51 in 2021, and further to 32.59 in 2022. The sharp increase in 2021 and 2022 suggests a substantial improvement in asset utilization within the Canadian operations during these years.
- Other Geographic Areas Asset Turnover
- The 'Other' geographic category shows an inconsistent pattern with significant fluctuations and an outlier. The ratio starts at 15.06 in 2017, decreases to 11.62 in 2018, then slightly recovers to 12.89 in 2019 but drops again to 10.5 in 2020. An anomalous spike occurs in 2021, where the ratio abruptly rises to 123, which likely indicates an irregularity or data error rather than a substantive operational change. In 2022, the ratio returns to a level of 10, closer to previous years' values but still lower than the U.S. and Canada ratios, indicating relatively lower asset turnover efficiency or inconsistent performance in this region.
Area Asset Turnover: U.S.
Best Buy Co. Inc.; U.S.; area asset turnover calculation
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue from external customers | ||||||
| Property and equipment, net | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 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).
1 2022 Calculation
Area asset turnover = Revenue from external customers ÷ Property and equipment, net
= ÷ =
- Revenue from external customers
- The revenue exhibited a continuous upward trend over the six-year period. Starting at $36,248 million in 2017, it increased steadily each year, reaching $47,830 million by 2022. This reflects a compound growth with no recorded decline, indicative of expanding sales and market presence in the U.S. geographic area.
- Property and equipment, net
- The net value of property and equipment showed minor fluctuations but remained relatively stable across the years. It increased from $2,120 million in 2017 to a peak of $2,321 million in 2019, followed by a slight decline to $2,128 million in 2022. This pattern suggests modest investment or depreciation activities with no significant expansion or contraction of physical assets.
- Area asset turnover
- The area asset turnover ratio demonstrated a consistent improvement throughout the examined period. Beginning at 17.1 in 2017, it saw some variation but overall increased significantly, reaching 22.48 in 2022. This upward trend indicates enhanced efficiency in utilizing physical assets to generate revenue, reflecting better operational performance or increased sales productivity relative to asset base.
Area Asset Turnover: Canada
Best Buy Co. Inc.; Canada; area asset turnover calculation
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue from external customers | ||||||
| Property and equipment, net | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 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).
1 2022 Calculation
Area asset turnover = Revenue from external customers ÷ Property and equipment, net
= ÷ =
- Revenue from external customers
- Revenue demonstrates a general upward trend over the analyzed periods, increasing from 2,899 million US dollars in January 2017 to 3,911 million US dollars by January 2022. There is a slight decline noted between February 2019 and February 2020, where revenue decreased from 3,214 to 3,125 million US dollars, but this was followed by a robust recovery and growth in subsequent years, reaching the highest recorded figure in the most recent period.
- Property and equipment, net
- The net value of property and equipment exhibits a consistent downward trend throughout the period. Starting from 156 million US dollars in January 2017, the value peaked at 190 million US dollars in February 2018 but then steadily declined each year thereafter, reaching 120 million US dollars by January 2022. This declining asset base may indicate divestment, depreciation outpacing reinvestment, or a strategic shift away from physical assets.
- Area asset turnover
- The area asset turnover ratio displays a considerable improvement over time. Beginning at 18.58 in January 2017, there was a decrease to 16.77 in February 2018, followed by a marked increase to 19.96 by February 2019. This ratio further accelerated sharply to 32.59 by January 2022. The rising asset turnover ratio implies increased efficiency in generating revenue from the physical assets, possibly linked to enhanced operational effectiveness or more optimized use of space and equipment.
Area Asset Turnover: Other
Best Buy Co. Inc.; Other; area asset turnover calculation
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue from external customers | ||||||
| Property and equipment, net | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 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).
1 2022 Calculation
Area asset turnover = Revenue from external customers ÷ Property and equipment, net
= ÷ =
- Revenue from external customers
- The revenue from external customers in the "Other" geographic area showed an increasing trend from 2017 through 2020, rising from 256 million USD in 2017 to a peak of 399 million USD in 2020. However, a decline was observed in 2021 with revenue dropping to 369 million USD, followed by a significant decrease to 20 million USD in 2022. This indicates a major contraction or possible exit from the market segment in the most recent year.
- Property and equipment, net
- The net value of property and equipment in this geographic area generally increased between 2017 and 2020, from 17 million USD to a high of 38 million USD, suggesting investment or acquisition of assets during this period. A sharp decline followed in 2021 to 3 million USD and further to 2 million USD in 2022, reflecting a substantial reduction in physical assets, perhaps due to divestment or asset write-downs.
- Area asset turnover
- The area asset turnover ratio demonstrated variability over the years. Initially, it declined from 15.06 in 2017 to 10.5 in 2020, showing decreasing efficiency in generating revenue per unit of asset. In 2021, an anomalous sharp increase to 123 was recorded, likely driven by the drastic drop in asset base rather than an operational improvement. By 2022, the ratio normalized somewhat to 10, consistent with previous years excluding the spike. This suggests the spike was due to the significant decrease in property and equipment rather than genuine operational changes.
Revenue from external customers
Best Buy Co. Inc., revenue from external customers by geographic area
US$ in millions
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | |
|---|---|---|---|---|---|---|
| U.S. | ||||||
| Canada | ||||||
| Other | ||||||
| Total |
Based on: 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).
- U.S. Revenue Trend
- The revenue generated from the U.S. market shows a consistent upward trajectory over the analyzed periods. Starting at $36,248 million in early 2017, it increased steadily each year, reaching $47,830 million by early 2022. This represents a robust growth pattern, with the largest year-over-year increment occurring between 2021 and 2022.
- Canada Revenue Trend
- Revenue from the Canadian market also exhibits a positive trend, albeit with more moderate growth compared to the U.S. Beginning at $2,899 million in 2017, the Canadian revenue increased gradually to $3,911 million in 2022. Notably, there was a slight dip in 2020 followed by a strong recovery in the subsequent years.
- Other Geographic Areas Revenue Trend
- Revenue attributed to other geographic areas shows an erratic pattern. Initial growth is observed from $256 million in 2017 to a high of $399 million in 2020. However, this is followed by a significant decrease, plummeting to just $20 million in 2022, indicating potential divestitures, market exits, or other significant operational changes in these regions.
- Total Revenue Trend
- The total revenue, aggregating all geographic regions, demonstrates consistent growth throughout the periods analyzed. The total increased from $39,403 million in 2017 to $51,761 million in 2022. This overall growth is primarily driven by strong performance in the U.S. market, supplemented by steady gains in Canada, while the decline in other areas has a minimal overall dampening effect.
- Summary of Geographic Contributions
- The U.S. market remains the dominant contributor to total revenue, consistently comprising the largest share, with Canada as a secondary but growing contributor. The sharp decline in other geographic revenues in the most recent period represents a notable anomaly that impacts the diversification of the revenue base. Overall, the company's revenue growth is solid with expansions mainly centered in North America.
Property and equipment, net
Best Buy Co. Inc., property and equipment, net by geographic area
US$ in millions
| Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | Jan 28, 2017 | |
|---|---|---|---|---|---|---|
| U.S. | ||||||
| Canada | ||||||
| Other | ||||||
| Total |
Based on: 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).
- U.S. Property and Equipment, Net
- The net value of property and equipment in the U.S. shows a generally stable pattern with slight fluctuations over the examined years. Starting at $2,120 million in early 2017, it increased to a peak of $2,321 million by early 2019. Thereafter, a gradual decline is observed, with values decreasing to $2,150 million in 2020 and continuing a modest decline through to $2,128 million in early 2022.
- Canada Property and Equipment, Net
- The Canadian segment exhibits more volatility and a downward trend overall. From $156 million in 2017, there was an increase to $190 million in 2018, followed by a decline to $161 million in 2019. This downward trajectory continued more sharply through subsequent years, reaching $120 million by early 2022, indicating a consistent reduction in net property and equipment value.
- Other Geographic Areas Property and Equipment, Net
- The "Other" category demonstrates erratic fluctuations throughout the period. Starting at a relatively low $17 million in 2017, there was an increase to $38 million by 2020, representing significant growth in those years. However, this is followed by a sharp drop to only $3 million in 2021 and further down to $2 million in 2022, indicating a substantial contraction or possible divestment in non-U.S. and non-Canadian regions.
- Total Property and Equipment, Net
- The total net property and equipment value reflects the combined trends of the individual regions. It increased steadily from $2,293 million in 2017 to a peak of $2,510 million in 2019, suggesting overall growth across the company’s geographic footprint up to that point. Post-2019, there is a clear declining trend, with total net values falling to $2,250 million by early 2022, driven primarily by reductions in the U.S. and Canadian assets and a pronounced contraction in other regions.