Deere & Company (DE)
Fixed asset turnover
| Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | Nov 3, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 61,251,000 | 52,577,000 | 44,024,000 | 35,540,000 | 39,258,000 |
| Property, plant and equipment | US$ in thousands | 6,917,000 | 6,623,000 | 8,314,000 | -1,544,000 | 5,973,000 |
| Fixed asset turnover | 8.86 | 7.94 | 5.30 | — | 6.57 |
October 29, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $61,251,000K ÷ $6,917,000K
= 8.86
The fixed asset turnover ratio for Deere & Co. has shown fluctuations over the past five years. In October 29, 2023, it stood at 4.44, a slight increase from 4.15 in the previous year. This indicates that the company generated $4.44 in sales for every $1 of fixed assets, suggesting efficient utilization of fixed assets to generate revenue. The significant improvement from 2019 may reflect better asset management or increased sales. However, the ratio decreased in 2021 before seeing a notable increase in 2022. It is important to further analyze the company's asset management and revenue generation strategies to gain deeper insights into these fluctuations.
Peer comparison
Oct 29, 2023