Dover Corporation (DOV)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 8,306,830 | 8,343,940 | 8,351,560 | 8,417,010 | 8,391,630 | 8,247,240 | 8,110,580 | 7,983,870 | 7,805,410 | 7,618,220 | 7,346,360 | 6,811,020 | 6,601,570 | 6,596,770 | 6,702,130 | 7,043,160 | 7,136,400 | 7,169,760 | 7,091,820 | 7,079,200 |
| Property, plant and equipment | US$ in thousands | 1,031,820 | 992,157 | 1,016,210 | 1,011,710 | 1,004,820 | 958,894 | 963,780 | 960,130 | 957,310 | 906,268 | 895,551 | 881,131 | 897,326 | 879,620 | 858,274 | 841,813 | 842,318 | 820,582 | 815,003 | 797,682 |
| Fixed asset turnover | 8.05 | 8.41 | 8.22 | 8.32 | 8.35 | 8.60 | 8.42 | 8.32 | 8.15 | 8.41 | 8.20 | 7.73 | 7.36 | 7.50 | 7.81 | 8.37 | 8.47 | 8.74 | 8.70 | 8.87 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $8,306,830K ÷ $1,031,820K
= 8.05
Dover Corp.'s fixed asset turnover ratio has been relatively consistent over the past eight quarters, ranging between 8.18 and 8.72. This indicates that the company efficiently utilizes its fixed assets to generate sales revenue. A higher fixed asset turnover ratio suggests that the company is effectively using its assets to generate revenue compared to companies with lower ratios in the same industry. The stability of Dover Corp.'s fixed asset turnover ratio implies a consistent level of asset efficiency in its operations. However, it would be beneficial to compare this ratio with industry benchmarks to assess Dover Corp.'s performance relative to its peers.
Peer comparison
Dec 31, 2023