Apogee Enterprises Inc (APOG)
Fixed asset turnover
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,547,564 | 2,501,973 | 2,557,103 | 2,594,503 | 2,585,810 | 2,517,893 | 2,118,478 | 1,700,683 | 1,312,727 | 1,276,688 | 1,255,080 | 1,248,514 | 1,210,378 | 1,253,972 | 1,279,807 | 1,318,706 | 1,387,439 | 1,396,594 | 1,416,396 | 1,421,471 |
| Property, plant and equipment | US$ in thousands | 244,216 | 246,206 | 245,541 | 246,343 | 248,867 | 231,173 | 232,766 | 237,412 | 249,995 | 254,838 | 272,994 | 292,296 | 298,443 | 302,082 | 314,323 | 320,073 | 324,386 | 326,418 | 319,234 | 317,522 |
| Fixed asset turnover | 10.43 | 10.16 | 10.41 | 10.53 | 10.39 | 10.89 | 9.10 | 7.16 | 5.25 | 5.01 | 4.60 | 4.27 | 4.06 | 4.15 | 4.07 | 4.12 | 4.28 | 4.28 | 4.44 | 4.48 |
March 2, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,547,564K ÷ $244,216K
= 10.43
Fixed asset turnover for Apogee Enterprises Inc has shown some fluctuations over the time period analyzed. The ratio has generally been on the higher side, ranging from 5.01 to 10.89. This indicates that the company is efficiently utilizing its fixed assets to generate sales revenue.
A higher fixed asset turnover ratio implies that the company is able to generate more revenue per dollar of fixed assets invested, which can be a positive sign of operational efficiency. However, the fluctuations in the ratio over time may indicate variability in the company's sales or asset management strategies.
It is worth noting that there was a significant decrease in the fixed asset turnover ratio from August 2022 to May 2023, which might suggest a temporary decline in asset efficiency during that period. However, the ratio improved again in the following quarters.
Overall, the trend in the fixed asset turnover ratio for Apogee Enterprises Inc suggests that the company has generally been effective in generating sales from its fixed asset base, although there have been some fluctuations in performance over the period analyzed.