Astec Industries Inc (ASTE)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,332,400 | 1,271,800 | 1,095,400 | 1,030,400 | 1,167,370 |
| Property, plant and equipment | US$ in thousands | 187,600 | 173,600 | 171,700 | 172,800 | 190,400 |
| Fixed asset turnover | 7.10 | 7.33 | 6.38 | 5.96 | 6.13 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,332,400K ÷ $187,600K
= 7.10
The fixed asset turnover ratio for Astec Industries Inc. over the past five years has shown a fluctuating trend. The ratio has ranged from a low of 5.93 in 2020 to a high of 7.34 in 2022. This ratio measures the efficiency of the company in generating sales revenue relative to its investment in fixed assets. Astec Industries Inc. has generally been effectively utilizing its fixed assets to generate sales, as indicated by the ratios consistently above 5. However, the slight decrease in the ratio from 2022 to 2023 may suggest a potential decrease in efficiency in utilizing fixed assets during the most recent period. Further analysis of the underlying factors influencing fixed asset utilization may be warranted to understand the trends in the performance of the company.
Peer comparison
Dec 31, 2023