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Winnebago Industries Asset Turnover

: 0.46 (As of Feb. 2021)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Winnebago Industries's Revenue for the three months ended in Feb. 2021 was $840 Mil. Winnebago Industries's Total Assets for the quarter that ended in Feb. 2021 was $1,818 Mil. Therefore, Winnebago Industries's Asset Turnover for the quarter that ended in Feb. 2021 was 0.46.

Asset Turnover is linked to ROE % through Du Pont Formula. Winnebago Industries's annualized ROE % for the quarter that ended in Feb. 2021 was 30.46%. It is also linked to ROA % through Du Pont Formula. Winnebago Industries's annualized ROA % for the quarter that ended in Feb. 2021 was 15.19%.


Winnebago Industries Asset Turnover Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

Winnebago Industries Annual Data
Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.59 2.39 2.06 1.84 1.67

Winnebago Industries Quarterly Data
May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.40 0.26 0.45 0.45 0.46

Winnebago Industries Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Winnebago Industries's Asset Turnover for the fiscal year that ended in Aug. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Aug. 2020 )/( (Total Assets (A: Aug. 2019 )+Total Assets (A: Aug. 2020 ))/ count )
=2355.533/( (1104.231+1713.7)/ 2 )
=2355.533/1408.9655
=1.67

Winnebago Industries's Asset Turnover for the quarter that ended in Feb. 2021 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Feb. 2021 )/( (Total Assets (Q: Nov. 2020 )+Total Assets (Q: Feb. 2021 ))/ count )
=839.886/( (1780.99+1855.795)/ 2 )
=839.886/1818.3925
=0.46

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Winnebago Industries  (NYSE:WGO) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Winnebago Industries's annulized ROE % for the quarter that ended in Feb. 2021 is

ROE %**(Q: Feb. 2021 )
=Net Income/Total Stockholders Equity
=276.272/906.961
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(276.272 / 3359.544)*(3359.544 / 1818.3925)*(1818.3925/ 906.961)
=Net Margin %*Asset Turnover*Equity Multiplier
=8.22 %*1.8475*2.0049
=ROA %*Equity Multiplier
=15.19 %*2.0049
=30.46 %

Note: The Net Income data used here is four times the quarterly (Feb. 2021) net income data. The Revenue data used here is four times the quarterly (Feb. 2021) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Winnebago Industries's annulized ROA % for the quarter that ended in Feb. 2021 is

ROA %(Q: Feb. 2021 )
=Net Income/Total Assets
=276.272/1818.3925
=(Net Income / Revenue)*(Revenue / Total Assets)
=(276.272 / 3359.544)*(3359.544 / 1818.3925)
=Net Margin %*Asset Turnover
=8.22 %*1.8475
=15.19 %

Note: The Net Income data used here is four times the quarterly (Feb. 2021) net income data. The Revenue data used here is four times the quarterly (Feb. 2021) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


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