National Vision Holdings Inc (EYE)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,127,880 | 2,006,690 | 2,080,160 | 1,662,480 | 1,678,310 |
| Property, plant and equipment | US$ in thousands | 351,789 | 344,813 | 327,046 | 316,920 | 338,639 |
| Fixed asset turnover | 6.05 | 5.82 | 6.36 | 5.25 | 4.96 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,127,880K ÷ $351,789K
= 6.05
National Vision Holdings Inc's fixed asset turnover has been consistently increasing over the past five years, demonstrating improved efficiency in generating sales relative to its investment in fixed assets.
The fixed asset turnover ratio indicates how effectively the company is using its fixed assets to generate revenue. A higher ratio suggests that the company is utilizing its fixed assets more efficiently to generate sales.
From 2019 to 2023, National Vision Holdings Inc's fixed asset turnover increased from 4.96 to 6.05. This upward trend indicates that the company has been able to generate more sales relative to its investment in fixed assets over the years.
Overall, the increasing trend in fixed asset turnover reflects positively on National Vision Holdings Inc's operational efficiency in utilizing its fixed assets to drive revenue growth.
Peer comparison
Dec 31, 2023