Asbury Automotive Group Inc (ABG)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 14,802,700 | 15,433,800 | 9,837,700 | 7,131,800 | 7,210,300 |
| Property, plant and equipment | US$ in thousands | 2,315,700 | 1,941,000 | 1,990,000 | 956,200 | 909,700 |
| Fixed asset turnover | 6.39 | 7.95 | 4.94 | 7.46 | 7.93 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $14,802,700K ÷ $2,315,700K
= 6.39
Asbury Automotive Group Inc's fixed asset turnover ratio has varied over the past five years. The company's fixed asset turnover ratio was highest in 2022, at 7.95, indicating that the company generated $7.95 in revenue for every $1 of fixed assets during that year.
In 2023, the fixed asset turnover ratio decreased to 6.39. This suggests that the company generated $6.39 in revenue for every $1 of fixed assets in that year. Despite the decrease from the previous year, the 2023 ratio is still higher than the 2021 ratio of 4.94, indicating an improvement in asset utilization efficiency.
Overall, Asbury Automotive Group Inc has shown fluctuations in fixed asset turnover over the years, with variations in how effectively the company is utilizing its fixed assets to generate revenue. Further analysis of operational changes and investment in fixed assets may provide insights into the fluctuations in the fixed asset turnover ratio.
Peer comparison
Dec 31, 2023