Green Plains Renewable Energy Inc (GPRE)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,295,740	3,662,850	2,827,170	1,923,720	2,417,240
Property, plant and equipment	US$ in thousands	1,021,930	1,029,330	893,517	801,690	827,271
Fixed asset turnover		3.23	3.56	3.16	2.40	2.92

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,295,740K ÷ $1,021,930K
= 3.23

The fixed asset turnover ratio of Green Plains Inc has exhibited fluctuations over the past five years. The ratio decreased from 2.92 in 2019 to 2.40 in 2020, indicating a decline in the efficiency of utilizing fixed assets to generate revenue. However, there was a significant improvement in 2021, as the ratio increased to 3.16, showing better efficiency in generating sales from fixed assets. This positive trend continued in 2022 with a further increase to 3.56, suggesting even more effective utilization of fixed assets. In 2023, the ratio slightly decreased to 3.23, but it remains relatively high compared to previous years, indicating that Green Plains Inc is still efficiently generating revenue from its fixed assets. The overall trend indicates an improving efficiency in utilizing fixed assets to drive sales over the five-year period.