Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
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)
Williams-Sonoma Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio shows a general upward trend from the initial recorded value of 6.1 in early 2019, reaching a peak of 9.01 around late 2021. Following this peak, the ratio exhibits a gradual decline, decreasing to 7.73 by April 2024. This pattern suggests an improvement in the efficiency of fixed asset use through 2021, followed by a moderate reduction in turnover efficiency in more recent quarters.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This metric starts at the same level of 6.1 but drops sharply to around 2.7 in early 2019 with subsequent fluctuations. The ratio then trends upward, peaking at approximately 4.1 in mid-2021, before demonstrating a mild decline towards 3.52 by April 2024. The lower values compared to the standard net fixed asset turnover indicate the significant impact of operating lease assets on the turnover calculation, with a notable improvement mid-period before a slight reduction more recently.
- Total Asset Turnover
- Total asset turnover begins at 2.02 and experiences a general decreasing tendency through mid-2020, dropping to a low of around 1.33. After this period, the ratio recovers and peaks at 1.99 in mid-2022. Post this peak, a slow decline is observed, with the ratio tapering down to 1.48 by the first quarter of 2024. The pattern indicates varying efficiency in total asset utilization, with recovery periods offset by more recent decreases in turnover.
- Equity Turnover
- Equity turnover shows more volatility compared to the other ratios. Starting at 4.91, it rises consistently to a peak of 5.2 in early 2019 before declining to 4.11 in early 2021. Subsequently, there is a sharp increase reaching 6.71 by mid-2022, followed by a significant decline down to 3.46 in early 2024. This fluctuation reflects changes in equity utilization efficiency, characterized by periods of both rapid improvement and notable decline.
- Summary Insights
- Overall, the financial ratios indicate fluctuating efficiency in asset and equity utilization over the examined period. Fixed asset turnover ratios improved significantly until around 2021, reflecting enhanced operational performance, before moderating in subsequent quarters. Total asset turnover demonstrates a dip and recovery pattern, suggesting shifting effectiveness in overall asset usage. Most notably, equity turnover reveals substantial volatility, implying variable performance in leveraging shareholders' equity, which may warrant further investigation to understand underlying causes driving such dynamics.
Net Fixed Asset Turnover
Williams-Sonoma Inc., net fixed asset turnover calculation (quarterly data)
| Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | Oct 28, 2018 | Jul 29, 2018 | Apr 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net revenues | 1,660,348) | 2,278,937) | 1,853,650) | 1,862,614) | 1,755,451) | 2,453,079) | 2,192,574) | 2,137,537) | 1,891,227) | 2,501,029) | 2,047,539) | 1,948,339) | 1,749,029) | 2,292,673) | 1,764,536) | 1,490,777) | 1,235,203) | 1,843,590) | 1,442,472) | 1,370,814) | 1,241,132) | 1,836,436) | 1,356,983) | 1,275,174) | 1,203,000) | ||||||||
| Property and equipment, net | 990,166) | 1,013,189) | 1,026,819) | 1,036,407) | 1,050,026) | 1,065,381) | 1,009,088) | 973,676) | 942,460) | 920,773) | 892,226) | 875,295) | 875,384) | 873,894) | 869,092) | 887,401) | 907,219) | 929,038) | 915,740) | 913,059) | 916,030) | 929,635) | 931,361) | 919,689) | 926,320) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 7.73 | 7.65 | 7.72 | 7.97 | 8.13 | 8.14 | 8.64 | 8.81 | 8.90 | 8.96 | 9.01 | 8.86 | 8.34 | 7.76 | 7.29 | 6.77 | 6.49 | 6.35 | 6.43 | 6.36 | 6.23 | 6.10 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 2.38 | 2.52 | 2.61 | 2.74 | 2.81 | 2.82 | 2.82 | 2.78 | 2.75 | 2.75 | 2.83 | 2.80 | 2.84 | 2.93 | 3.11 | 3.32 | 3.45 | 3.41 | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 5.84 | 5.84 | 5.97 | 5.98 | 6.07 | 6.14 | 6.23 | 6.15 | 6.06 | 6.00 | 5.92 | 5.83 | 5.73 | 5.35 | 5.27 | 5.10 | 4.94 | 4.84 | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 4.87 | 4.89 | 5.15 | 5.37 | 5.50 | 5.53 | 5.55 | 5.10 | 5.05 | 5.05 | 5.03 | 4.97 | 4.95 | 4.68 | 4.57 | 4.32 | 4.00 | 3.86 | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 8.29 | 8.25 | 8.36 | 8.31 | 8.53 | 8.63 | 8.84 | 9.21 | 9.43 | 9.21 | 8.84 | 8.46 | 7.46 | 6.38 | 6.67 | 6.61 | 7.08 | 7.83 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).
1 Q1 2025 Calculation
Net fixed asset turnover
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Property and equipment, net
= (1,660,348 + 2,278,937 + 1,853,650 + 1,862,614)
÷ 990,166 = 7.73
2 Click competitor name to see calculations.
- Net Revenues
- The net revenues exhibit a pattern of notable fluctuation over the periods, with several peaks occurring at various points. Initially, revenues hover around 1.2 to 1.3 million USD (in thousands), then surge significantly in early 2019 and early 2020, exceeding 1.8 to 2.2 million USD. Following these peaks, there are declines and recoveries, with another substantial rise occurring in early 2022, where revenues approach or surpass 2.5 million USD. The trend from 2022 through early 2024 reflects variability but with general values often above 1.6 million USD, showing resilience but also some volatility.
- Property and Equipment, Net
- The net value of property and equipment shows a gradual but consistent downward trend across the periods. Starting around 926,000 USD (in thousands) in early 2018, the figure decreases steadily to approximately 990,000 USD by early 2024. This represents a modest decline over the six-year span, indicating either asset depreciation, disposals, or limited new capital investment in fixed assets relative to disposals or amortization.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, beginning from early 2019, reveals a general upward trajectory initially, rising from about 6.1 to a peak exceeding 9.0 by early 2022. This suggests improved efficiency in the utilization of fixed assets to generate revenue during this period. However, post-peak, the ratio trends downward, declining steadily to around 7.7 by the latest period in early 2024. Despite this decrease, the ratio remains higher than earlier years, indicating sustained improved asset efficiency compared to the start of the measured period.
- Overall Insights
- Over the observed quarters, there is evidence of growing sales capacity coupled with declining fixed asset investment. The increasing fixed asset turnover ratio until early 2022 suggests heightened efficiency in asset use. The later period's declining turnover ratio may indicate normalization or challenges in maintaining peak efficiency levels. Revenue fluctuations underscore variability potentially attributable to market conditions, seasonality, or strategic operational shifts. The consistent decrease in net property and equipment value may reflect strategic asset management by the company.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Williams-Sonoma Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | Oct 28, 2018 | Jul 29, 2018 | Apr 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net revenues | 1,660,348) | 2,278,937) | 1,853,650) | 1,862,614) | 1,755,451) | 2,453,079) | 2,192,574) | 2,137,537) | 1,891,227) | 2,501,029) | 2,047,539) | 1,948,339) | 1,749,029) | 2,292,673) | 1,764,536) | 1,490,777) | 1,235,203) | 1,843,590) | 1,442,472) | 1,370,814) | 1,241,132) | 1,836,436) | 1,356,983) | 1,275,174) | 1,203,000) | ||||||||
| Property and equipment, net | 990,166) | 1,013,189) | 1,026,819) | 1,036,407) | 1,050,026) | 1,065,381) | 1,009,088) | 973,676) | 942,460) | 920,773) | 892,226) | 875,295) | 875,384) | 873,894) | 869,092) | 887,401) | 907,219) | 929,038) | 915,740) | 913,059) | 916,030) | 929,635) | 931,361) | 919,689) | 926,320) | ||||||||
| Operating lease right-of-use assets | 1,187,777) | 1,229,650) | 1,235,425) | 1,232,925) | 1,258,599) | 1,286,452) | 1,277,064) | 1,174,354) | 1,102,056) | 1,132,764) | 1,159,315) | 1,052,617) | 1,054,746) | 1,086,009) | 1,091,649) | 1,146,229) | 1,175,402) | 1,166,383) | 1,194,061) | 1,208,528) | 1,200,972) | —) | —) | —) | —) | ||||||||
| Property and equipment, net (including operating lease, right-of-use asset) | 2,177,943) | 2,242,839) | 2,262,244) | 2,269,332) | 2,308,625) | 2,351,833) | 2,286,152) | 2,148,030) | 2,044,516) | 2,053,537) | 2,051,541) | 1,927,912) | 1,930,130) | 1,959,903) | 1,960,741) | 2,033,630) | 2,082,621) | 2,095,421) | 2,109,801) | 2,121,587) | 2,117,002) | 929,635) | 931,361) | 919,689) | 926,320) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.52 | 3.46 | 3.50 | 3.64 | 3.70 | 3.69 | 3.82 | 3.99 | 4.10 | 4.02 | 3.92 | 4.02 | 3.78 | 3.46 | 3.23 | 2.96 | 2.83 | 2.81 | 2.79 | 2.74 | 2.70 | 6.10 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 1.85 | 1.94 | 1.97 | 2.05 | 2.09 | 2.08 | 2.07 | 2.04 | 2.03 | 2.03 | 2.10 | 2.09 | 2.13 | 2.17 | 2.30 | 2.51 | 2.61 | 2.56 | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 4.48 | 4.49 | 4.69 | 4.69 | 4.78 | 4.83 | 4.95 | 4.95 | 4.90 | 4.85 | 4.79 | 4.70 | 4.63 | 4.31 | 4.29 | 4.14 | 3.96 | 3.89 | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 4.00 | 4.04 | 4.26 | 4.43 | 4.58 | 4.60 | 4.62 | 4.17 | 4.15 | 4.15 | 4.12 | 4.14 | 4.11 | 3.90 | 3.79 | 3.59 | 3.31 | 3.20 | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 3.41 | 3.40 | 3.36 | 3.29 | 3.34 | 3.36 | 3.38 | 3.45 | 3.47 | 3.44 | 3.19 | 3.02 | 2.66 | 2.29 | 2.38 | 2.38 | 2.58 | 2.90 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).
1 Q1 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= (1,660,348 + 2,278,937 + 1,853,650 + 1,862,614)
÷ 2,177,943 = 3.52
2 Click competitor name to see calculations.
The financial data reveals several notable trends over the observed periods. Net revenues exhibit a cyclical pattern with some volatility but generally show growth from 2018 through early 2021, peaking in January 2021 at approximately $2.29 billion. Following this peak, revenues fluctuate with a downward trend into early 2024, ending at around $1.66 billion. These variations suggest sensitivity to seasonal or external market factors impacting sales performance.
The carrying value of property and equipment, inclusive of operating lease right-of-use assets, displays a significant increase from early 2019 onward, jumping from under $1 billion to over $2 billion. From May 2019, this asset base remains relatively stable with minor fluctuations but maintains a level above $2 billion, indicating considerable investment or capitalization of leases during this period.
Net fixed asset turnover ratios, available from early 2019, reflect the efficiency with which the company utilizes its fixed assets to generate revenues. Initially, the ratio starts high at 6.1 but quickly decreases to approximately 2.7 in the subsequent quarter, indicating less effective use of the asset base or changes in asset valuation. Following this, the ratio increases steadily, peaking above 4 in mid-2021 and maintaining a relatively stable range around 3.5 to 4 through early 2024. This suggests an improvement in asset utilization post the initial adjustment period, though with some variability.
- Net Revenues
- Displayed notable growth from 2018 to early 2021, with periodic fluctuations and a peak near $2.29 billion. Revenues thereafter show incremental declines with intermittent increases, ending at approximately $1.66 billion in early 2024, signaling variability possibly influenced by market conditions or operational changes.
- Property and Equipment, Net
- Substantial increase around early 2019, rising from roughly $0.9 billion to over $2 billion and stabilizing above this level in subsequent quarters. This increase likely reflects new asset acquisitions or capitalization of lease assets, maintaining a consistently high asset base over the following years.
- Net Fixed Asset Turnover
- Initial high ratio followed by a sharp decline and then progressive improvement through 2021, sustaining a range near 3.5-4 times revenue until early 2024. The trend indicates fluctuating but generally improving efficiency in generating revenues from fixed assets after initial adjustment.
Overall, the data suggests capital expansion in fixed assets beginning in 2019, accompanied by varied yet generally strong revenue performance through early 2021. The subsequent period shows stabilization in asset levels with somewhat decreasing revenue, yet the company maintains solid asset turnover ratios, implying continued operational effectiveness with its asset base.
Total Asset Turnover
Williams-Sonoma Inc., total asset turnover calculation (quarterly data)
| Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | Oct 28, 2018 | Jul 29, 2018 | Apr 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net revenues | 1,660,348) | 2,278,937) | 1,853,650) | 1,862,614) | 1,755,451) | 2,453,079) | 2,192,574) | 2,137,537) | 1,891,227) | 2,501,029) | 2,047,539) | 1,948,339) | 1,749,029) | 2,292,673) | 1,764,536) | 1,490,777) | 1,235,203) | 1,843,590) | 1,442,472) | 1,370,814) | 1,241,132) | 1,836,436) | 1,356,983) | 1,275,174) | 1,203,000) | ||||||||
| Total assets | 5,159,979) | 5,273,548) | 4,883,769) | 4,571,811) | 4,471,037) | 4,663,016) | 4,594,007) | 4,319,174) | 4,210,713) | 4,625,620) | 4,477,324) | 4,245,037) | 4,110,240) | 4,661,424) | 4,310,679) | 4,487,296) | 4,418,115) | 4,054,042) | 3,963,824) | 3,869,681) | 3,788,365) | 2,812,844) | 2,718,759) | 2,607,977) | 2,656,905) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Total asset turnover1 | 1.48 | 1.47 | 1.62 | 1.81 | 1.91 | 1.86 | 1.90 | 1.99 | 1.99 | 1.78 | 1.80 | 1.83 | 1.78 | 1.46 | 1.47 | 1.34 | 1.33 | 1.45 | 1.49 | 1.50 | 1.51 | 2.02 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 1.01 | 1.02 | 1.06 | 1.09 | 1.11 | 1.09 | 1.14 | 1.13 | 1.13 | 1.11 | 1.17 | 1.16 | 1.16 | 1.12 | 1.20 | 1.23 | 1.30 | 1.20 | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 1.92 | 1.99 | 2.03 | 2.03 | 2.04 | 2.06 | 2.05 | 2.05 | 1.99 | 2.10 | 2.02 | 2.04 | 1.95 | 1.87 | 1.88 | 1.88 | 1.91 | 2.15 | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 1.88 | 2.07 | 2.12 | 2.09 | 2.09 | 2.22 | 2.04 | 2.04 | 1.92 | 2.16 | 1.93 | 1.92 | 1.84 | 1.92 | 1.68 | 1.55 | 1.62 | 1.83 | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 1.85 | 1.82 | 1.72 | 1.77 | 1.75 | 1.76 | 1.73 | 1.83 | 1.80 | 1.71 | 1.52 | 1.50 | 1.25 | 1.04 | 1.06 | 1.27 | 1.45 | 1.73 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).
1 Q1 2025 Calculation
Total asset turnover
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Total assets
= (1,660,348 + 2,278,937 + 1,853,650 + 1,862,614)
÷ 5,159,979 = 1.48
2 Click competitor name to see calculations.
The data reveals several notable trends and patterns in the company's financial performance and asset utilization over the observed periods.
- Net Revenues
- Net revenues demonstrate a cyclical pattern with noticeable fluctuations across quarters. There is a general upward trend from 2018 through early 2021, peaking in the first quarter of 2021 at approximately 2.29 billion USD. Following this peak, revenues decline somewhat but remain elevated relative to earlier years, showing intermittent volatility. For instance, a significant increase is evident in early 2019 and again in early 2022, pointing towards possible seasonality or promotional periods driving revenue spikes.
- Total Assets
- Total assets exhibit a steadily increasing trend throughout the timeframe, rising from roughly 2.66 billion USD in early 2018 to over 5.15 billion USD by the first quarter of 2024. Despite minor fluctuations, the overall asset base nearly doubles in size, suggesting ongoing investment in assets or expansion of the company's operational capacity. This growth trend in total assets is relatively consistent without abrupt declines, indicating stable asset management or acquisition strategies.
- Total Asset Turnover
- The total asset turnover ratio, available from early 2019 onward, shows a moderate degree of variability. Initially high at 2.02 in early 2019, the ratio declines to around 1.33 during mid to late 2020, indicating a reduced efficiency in generating revenues from assets. Subsequently, the ratio recovers and peaks again near 1.99 in early 2022, reflecting improved utilization. From 2022 onward, the ratio trends downward to approximately 1.48 by early 2024, suggesting a gradual decline in asset turnover efficiency. This trend points towards increasing asset base outpacing revenue growth or potentially less efficient asset use in recent quarters.
In summary, the company has experienced solid revenue growth interspersed with seasonal variations, a steady increase in its asset base, and fluctuating asset turnover efficiency. The peak net revenues align with periods of higher asset turnover, implying that efficient asset use is a key factor in revenue maximization. However, the recent trend towards declining asset turnover coupled with stable or slightly decreasing revenues may call for management attention to optimize asset utilization going forward.
Equity Turnover
Williams-Sonoma Inc., equity turnover calculation (quarterly data)
| Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | Oct 28, 2018 | Jul 29, 2018 | Apr 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net revenues | 1,660,348) | 2,278,937) | 1,853,650) | 1,862,614) | 1,755,451) | 2,453,079) | 2,192,574) | 2,137,537) | 1,891,227) | 2,501,029) | 2,047,539) | 1,948,339) | 1,749,029) | 2,292,673) | 1,764,536) | 1,490,777) | 1,235,203) | 1,843,590) | 1,442,472) | 1,370,814) | 1,241,132) | 1,836,436) | 1,356,983) | 1,275,174) | 1,203,000) | ||||||||
| Stockholders’ equity | 2,209,558) | 2,127,861) | 1,813,234) | 1,620,955) | 1,466,825) | 1,701,051) | 1,412,934) | 1,278,279) | 1,309,744) | 1,664,207) | 1,543,370) | 1,526,719) | 1,447,296) | 1,651,185) | 1,401,902) | 1,332,922) | 1,218,929) | 1,235,860) | 1,131,893) | 1,121,603) | 1,121,768) | 1,155,714) | 1,091,937) | 1,080,988) | 1,197,234) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Equity turnover1 | 3.46 | 3.64 | 4.37 | 5.10 | 5.82 | 5.10 | 6.17 | 6.71 | 6.40 | 4.95 | 5.21 | 5.08 | 5.04 | 4.11 | 4.52 | 4.51 | 4.83 | 4.77 | 5.20 | 5.18 | 5.09 | 4.91 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 2.13 | 2.23 | 2.39 | 2.56 | 2.73 | 2.85 | 3.03 | 3.19 | 3.40 | 3.52 | 3.65 | 3.70 | 3.57 | 3.40 | 3.80 | 3.86 | 4.06 | 4.13 | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 83.42 | 146.23 | 107.49 | 116.01 | 430.25 | 100.77 | 121.18 | 655.02 | — | — | 142.70 | 69.80 | 80.86 | 40.05 | 81.84 | — | — | — | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | — | — | — | — | — | — | — | — | — | — | — | — | 212.01 | 62.35 | 20.95 | 18.46 | 43.17 | 36.59 | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 7.32 | 7.42 | 7.66 | 7.75 | 7.83 | 7.85 | 8.70 | 9.20 | 8.91 | 8.09 | 7.08 | 6.75 | 6.16 | 5.51 | 6.00 | 7.24 | 7.78 | 7.01 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).
1 Q1 2025 Calculation
Equity turnover
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Stockholders’ equity
= (1,660,348 + 2,278,937 + 1,853,650 + 1,862,614)
÷ 2,209,558 = 3.46
2 Click competitor name to see calculations.
The net revenues display notable fluctuations across the observed quarterly periods. Initially, there is a gradual increase in net revenues from approximately 1,203,000 thousand US dollars in April 2018 to around 1,357,000 thousand US dollars by October 2018. A substantial rise occurs in the quarter ending February 2019, reaching about 1,836,000 thousand US dollars, followed by a return to lower levels near 1,241,000 to 1,442,000 thousand US dollars in subsequent quarters until February 2020 when revenues sharply increase again, peaking at approximately 2,292,000 thousand US dollars in January 2021. The revenues then fluctuate but generally maintain elevated amounts, achieving a high above 2,451,000 thousand US dollars in January 2023, before decreasing to approximately 1,660,000 thousand US dollars by April 2024. This pattern suggests seasonality or cyclical influences impacting sales revenue, coupled with periods of growth possibly driven by external market conditions or strategic business initiatives.
Stockholders' equity shows a mostly upward trend across the period, with some intermittent declines. Starting at roughly 1,197,234 thousand US dollars in April 2018, equity decreases to slightly above 1,081,000 thousand in July 2018, then broadly increases to reach 1,651,185 thousand US dollars in January 2021. After a mild dip around May 2022, equity ascends steadily, culminating in a peak of approximately 2,209,558 thousand US dollars in April 2024. This progression indicates strengthening financial stability and shareholder value over time, despite minor setbacks likely due to operational or market challenges during certain quarters.
The equity turnover ratio exhibits variability, evidencing fluctuations in how effectively the company utilizes its equity to generate revenues. Values are only recorded from February 2019 onwards, starting at a ratio of 4.91 and remaining within a range mostly between 4 and 6 throughout the periods, with occasional peaks above 6. Notably, the ratio peaks at 6.71 in July 2022 before declining to its lowest point of 3.46 in April 2024. This decline in recent quarters may reflect a reduced efficiency in employing equity to produce revenues or an increase in equity base not mirrored by a proportional rise in revenues. Overall, the equity turnover ratio trends suggest periods of both strong and weakened capital efficiency over the course of the dataset.