Fresh Del Monte Produce Inc (FDP)
Total 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 |
| Total assets | US$ in thousands | 3,184,100 | 3,458,900 | 3,398,100 | 3,263,300 | 3,349,900 |
| Total asset turnover | 1.36 | 1.28 | 1.25 | 1.29 | 1.34 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,320,700K ÷ $3,184,100K
= 1.36
Fresh Del Monte Produce Inc's total asset turnover has shown a consistent trend over the past five years, ranging from 1.25 in 2021 to 1.36 in 2023. This ratio indicates the company's ability to generate revenue relative to its total assets. A higher total asset turnover suggests that the company is efficient in utilizing its assets to generate sales.
The improvement in total asset turnover from 2021 to 2023 indicates that Fresh Del Monte Produce Inc has been more effective in generating revenue from its assets during this period. This could be attributed to better asset management, increased sales volume, or improved operational efficiency.
Although the total asset turnover decreased slightly in 2022 compared to 2021, the subsequent increase in 2023 suggests that the company may have implemented strategies to enhance asset utilization and revenue generation.
Overall, Fresh Del Monte Produce Inc's total asset turnover indicates a positive trend in asset efficiency and revenue generation over the five-year period, which is a favorable sign for investors and stakeholders.
Peer comparison
Dec 31, 2023