Coca-Cola Consolidated Inc. (COKE)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,644,960 | 6,166,200 | 5,518,710 | 4,951,170 | 4,774,060 |
| Property, plant and equipment | US$ in thousands | 1,320,560 | 1,183,730 | 1,030,690 | 1,022,720 | 997,403 |
| Fixed asset turnover | 5.03 | 5.21 | 5.35 | 4.84 | 4.79 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $6,644,960K ÷ $1,320,560K
= 5.03
The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate sales. A higher ratio indicates that the company is generating more revenue per dollar of fixed assets.
Over the past five years, Coca-Cola Consolidated Inc has maintained a consistently high fixed asset turnover ratio, ranging from 4.58 to 5.21. This suggests that the company has been effectively utilizing its fixed assets to generate sales.
In particular, the ratio increased from 4.75 in 2019 to 5.21 in 2022, indicating a significant improvement in asset utilization during that period. However, there was a slight dip in 2023 with a ratio of 5.02, which may indicate a slight decrease in efficiency in utilizing fixed assets to generate sales.
Overall, the trend in Coca-Cola Consolidated Inc's fixed asset turnover ratio demonstrates a strong performance in terms of efficiently generating revenue from its fixed assets over the past five years.
Peer comparison
Dec 31, 2023