Fortive Corp (FTV)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	5,923,600	5,709,200	5,059,600	4,504,200	7,208,600
Property, plant and equipment	US$ in thousands	439,800	421,900	395,500	422,000	416,000
Fixed asset turnover		13.47	13.53	12.79	10.67	17.33

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,923,600K ÷ $439,800K
= 13.47

The fixed asset turnover ratio of Fortive Corp has been relatively stable over the past five years, ranging from 10.98 to 14.09. This ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio indicates that the company is generating more revenue per dollar invested in fixed assets.

In this case, Fortive Corp has consistently maintained a high fixed asset turnover ratio, which suggests that the company is effectively utilizing its fixed assets to generate revenue. The slight fluctuations in the ratio over the years may be attributed to changes in the company's operations, investments in fixed assets, or changes in the competitive landscape.

Overall, the stable and relatively high fixed asset turnover ratio of Fortive Corp indicates efficient management of its fixed assets to generate revenue.