Harley-Davidson Inc (HOG)
Fixed 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 | 5,836,480 | 5,925,550 | 6,025,070 | 6,048,640 | 5,755,140 | 5,629,290 | 5,346,020 | 5,408,990 | 5,336,310 | 5,045,102 | 4,845,472 | 4,178,639 | 4,054,369 | 4,401,417 | 4,508,257 | 5,275,650 | 5,361,790 | 5,435,380 | 5,478,530 | 5,559,130 |
| Property, plant and equipment | US$ in thousands | 731,724 | 703,304 | 688,116 | 690,051 | 689,886 | 641,651 | 652,153 | 663,807 | 683,984 | 671,836 | 694,378 | 718,968 | 743,784 | 785,165 | 816,989 | 826,845 | 847,382 | 844,446 | 855,998 | 876,003 |
| Fixed asset turnover | 7.98 | 8.43 | 8.76 | 8.77 | 8.34 | 8.77 | 8.20 | 8.15 | 7.80 | 7.51 | 6.98 | 5.81 | 5.45 | 5.61 | 5.52 | 6.38 | 6.33 | 6.44 | 6.40 | 6.35 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,836,480K ÷ $731,724K
= 7.98
Harley-Davidson, Inc.'s fixed asset turnover ratio has been fairly consistent and relatively high over the past few quarters. The company's fixed asset turnover ratio ranged from 7.98 in Q4 2023 to 8.77 in Q1 2023. This indicates that, on average, for every dollar of fixed assets invested in the company, Harley-Davidson generated $8.15 to $8.77 in revenue during these periods.
A high fixed asset turnover ratio suggests that Harley-Davidson is effectively utilizing its fixed assets to generate sales. It indicates that the company is efficient in using its long-term assets, such as property, plant, and equipment, to drive revenue. The trend of consistently high fixed asset turnover ratios suggests that Harley-Davidson has been effectively managing and utilizing its fixed assets to generate revenue across multiple quarters.
Overall, the high and consistent fixed asset turnover ratios reflect positively on Harley-Davidson's operational efficiency and management of its fixed asset base. It indicates that the company is effectively leveraging its long-term assets to drive revenue and maximize shareholder value.
Peer comparison
Dec 31, 2023