Comfort Systems USA Inc (FIX)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,206,760 | 4,140,360 | 3,073,640 | 2,856,660 | 2,615,280 |
| Property, plant and equipment | US$ in thousands | 208,568 | 143,949 | 128,554 | 117,206 | 109,796 |
| Fixed asset turnover | 24.96 | 28.76 | 23.91 | 24.37 | 23.82 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,206,760K ÷ $208,568K
= 24.96
The fixed asset turnover ratio measures how efficiently Comfort Systems USA, Inc. generates revenue from its investment in fixed assets (property, plant, and equipment). A higher fixed asset turnover indicates better utilization of fixed assets to generate sales.
Analyzing the trend in fixed asset turnover for the last five years reveals fluctuations in the company's efficiency in utilizing its fixed assets. In 2023, the fixed asset turnover ratio decreased to 24.96 from 28.76 in 2022, indicating a slight decline in the company's ability to generate revenue from its fixed assets compared to the previous year. However, it is still higher than the ratios in 2021, 2020, and 2019, suggesting a relatively efficient use of fixed assets in 2023.
Overall, the fixed asset turnover ratios for Comfort Systems USA, Inc. have shown variability over the years, but they have generally remained at levels indicating a fairly effective utilization of fixed assets to generate sales. Further analysis of the company's operational performance and investment in fixed assets may provide deeper insights into the factors driving these fluctuations in the fixed asset turnover ratio.
Peer comparison
Dec 31, 2023