Franklin Electric Co Inc (FELE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,041,220 | 2,024,940 | 1,654,440 | 1,241,280 | 1,304,690 |
| Total assets | US$ in thousands | 1,728,100 | 1,694,200 | 1,575,200 | 1,272,300 | 1,194,700 |
| Total asset turnover | 1.18 | 1.20 | 1.05 | 0.98 | 1.09 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,041,220K ÷ $1,728,100K
= 1.18
Franklin Electric Co., Inc.'s total asset turnover has displayed fluctuating trends over the five-year period ending on December 31, 2023. The ratio measures the efficiency with which the company generates revenue from its total assets. A higher total asset turnover indicates that the company is more efficient in utilizing its assets to generate sales.
In 2023, Franklin Electric Co., Inc. achieved a total asset turnover of 1.20, a slight decrease from the previous year's ratio of 1.21. This indicates that the company generated $1.20 in revenue for every dollar of total assets owned during the year. The slight decrease suggests a slightly lower efficiency in asset utilization compared to the prior year.
Comparing to 2021 and 2020, where the total asset turnover was 1.06 and 0.98 respectively, the company has shown a significant improvement in efficiency in generating sales from its assets. This indicates a positive trend in asset utilization efficiency over the past three years.
However, when compared to 2019, where the total asset turnover was 1.10, the ratio for 2023 shows a slight increase in efficiency, indicating that the company has improved its asset turnover since then.
Overall, the total asset turnover of Franklin Electric Co., Inc. has demonstrated variability over the five-year period, with some fluctuations but generally trending upwards, which suggests an improving efficiency in utilizing its assets to generate revenue.
Peer comparison
Dec 31, 2023