Fresh Del Monte Produce Inc (FDP)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,320,700 | 4,442,300 | 4,252,000 | 4,202,300 | 4,489,000 |
| Property, plant and equipment | US$ in thousands | 1,256,400 | 1,309,500 | 1,415,800 | 1,420,300 | 1,403,200 |
| Fixed asset turnover | 3.44 | 3.39 | 3.00 | 2.96 | 3.20 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $4,320,700K ÷ $1,256,400K
= 3.44
Fresh Del Monte Produce Inc's fixed asset turnover has shown a generally increasing trend over the past five years. The firm's ability to generate sales from its fixed assets has improved from 3.20 in 2019 to 3.44 in 2023, indicating that it is utilizing its fixed assets more efficiently to generate revenue. This suggests that the company is effectively managing and utilizing its investment in fixed assets to drive sales growth. The consistent increase in the fixed asset turnover ratio reflects positively on Fresh Del Monte Produce Inc's operational efficiency and asset management strategies over the years.
Peer comparison
Dec 31, 2023