The Cooper Companies Inc. (COO)
Fixed asset turnover
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,487,900 | 3,229,100 | 2,893,900 | 2,392,900 | 2,575,500 |
| Property, plant and equipment | US$ in thousands | 1,632,600 | 1,413,700 | 1,347,600 | 1,281,900 | 1,132,100 |
| Fixed asset turnover | 2.14 | 2.28 | 2.15 | 1.87 | 2.27 |
October 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,487,900K ÷ $1,632,600K
= 2.14
The fixed asset turnover ratio measures how efficiently a company utilizes its fixed assets to generate sales revenue. A higher ratio indicates better utilization of fixed assets. Cooper Companies, Inc.'s fixed asset turnover has shown variability over the past five years, ranging from 1.90 to 2.34. The ratio was highest in 2019 at 2.34, indicating efficient use of fixed assets to generate sales. However, it decreased to 1.90 in 2020 before showing an upward trend in the following years. The ratio of 2.20 in 2023 suggests improved efficiency in utilizing fixed assets compared to 2020, but it remains lower than the peak ratio in 2019. Further investigation into the company's asset management and sales strategies may provide insights into these fluctuations.
Peer comparison
Oct 31, 2023