Fastenal Company (FAST)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,340,200 | 6,965,200 | 6,002,300 | 5,639,000 | 5,321,000 |
| Property, plant and equipment | US$ in thousands | 1,011,100 | 1,010,000 | 1,019,200 | 1,030,700 | 1,023,200 |
| Fixed asset turnover | 7.26 | 6.90 | 5.89 | 5.47 | 5.20 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $7,340,200K ÷ $1,011,100K
= 7.26
Fastenal Co.'s fixed asset turnover has shown a consistent improvement over the past five years, indicating efficient utilization of fixed assets to generate sales. The ratio increased from 5.21 in 2019 to 7.27 in 2023, showcasing a positive trend in the company's asset management efficiency. This signifies that for every dollar invested in fixed assets, Fastenal generated $7.27 in revenue in 2023, up from $5.21 in 2019. The upward trend suggests that Fastenal has been effectively maximizing the productivity of its fixed assets over the years, reflecting improved operational efficiency and potentially better profitability.
Peer comparison
Dec 31, 2023