Crane NXT Co (CXT)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,391,300 | 3,374,900 | 3,408,000 | 2,936,900 | 3,074,500 |
| Property, plant and equipment | US$ in thousands | 261,200 | 261,600 | 555,600 | 573,700 | 616,300 |
| Fixed asset turnover | 5.33 | 12.90 | 6.13 | 5.12 | 4.99 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,391,300K ÷ $261,200K
= 5.33
The fixed asset turnover ratio for Crane NXT Co has varied over the past five years, ranging from 4.99 in 2019 to 12.90 in 2022. The ratio measures how efficiently the company is generating revenue from its fixed assets.
In 2022, Crane NXT Co had the highest fixed asset turnover of 12.90, indicating that the company generated $12.90 in revenue for every dollar invested in fixed assets. This suggests strong asset utilization efficiency in that year.
On the other hand, the ratio dropped to 5.33 in 2023, which is still relatively high compared to previous years. This decrease could be due to changes in sales or the acquisition of additional fixed assets.
Overall, the fluctuation in the fixed asset turnover ratio indicates that Crane NXT Co's management of its fixed assets has been somewhat inconsistent over the past five years, with varying levels of efficiency in generating revenue from these assets.
Peer comparison
Dec 31, 2023