Franklin Electric Co Inc (FELE)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,041,219 | 2,056,177 | 2,068,471 | 2,054,878 | 2,024,939 | 1,973,102 | 1,885,052 | 1,771,958 | 1,654,390 | 1,542,467 | 1,435,189 | 1,306,706 | 1,241,381 | 1,242,820 | 1,241,335 | 1,287,613 | 1,310,047 | 1,306,547 | 1,295,924 | 1,283,749 |
| Total assets | US$ in thousands | 1,728,100 | 1,725,300 | 1,803,080 | 1,803,450 | 1,694,200 | 1,715,000 | 1,751,540 | 1,683,200 | 1,575,200 | 1,546,000 | 1,510,800 | 1,281,680 | 1,272,300 | 1,201,440 | 1,151,330 | 1,149,530 | 1,194,700 | 1,236,940 | 1,269,660 | 1,228,800 |
| Total asset turnover | 1.18 | 1.19 | 1.15 | 1.14 | 1.20 | 1.15 | 1.08 | 1.05 | 1.05 | 1.00 | 0.95 | 1.02 | 0.98 | 1.03 | 1.08 | 1.12 | 1.10 | 1.06 | 1.02 | 1.04 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,041,219K ÷ $1,728,100K
= 1.18
The total asset turnover ratio measures how effectively a company utilizes its total assets to generate revenue. Franklin Electric Co., Inc.'s total asset turnover has shown some fluctuations over the past eight quarters.
From Q1 2022 to Q2 2022, there was a noticeable increase in total asset turnover from 1.06 to 1.08, indicating a slight improvement in the company's efficiency in generating sales relative to its asset base. However, this improvement was short-lived as the ratio decreased in the subsequent quarters of Q3 2022 and Q4 2022 to 1.16 and 1.21, respectively.
In Q1 2023, the total asset turnover decreased further to 1.15 before showing a slight uptick in Q2 2023 to 1.16. The ratio then increased to 1.21 in Q3 2023 but decreased again to 1.20 in Q4 2023.
Overall, the trend in total asset turnover for Franklin Electric Co., Inc. has been somewhat volatile, with fluctuations in the efficiency of asset utilization to generate revenue. Further analysis of the company's operations and financial performance would be necessary to determine the underlying factors driving these changes in the total asset turnover ratio.
Peer comparison
Dec 31, 2023