IDEX Corporation (IEX)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,273,900 | 3,181,900 | 2,764,800 | 2,351,600 | 2,494,600 |
| Property, plant and equipment | US$ in thousands | 430,300 | 382,100 | 327,300 | 298,300 | 280,316 |
| Fixed asset turnover | 7.61 | 8.33 | 8.45 | 7.88 | 8.90 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,273,900K ÷ $430,300K
= 7.61
The fixed asset turnover ratio for Idex Corporation has shown a fluctuating trend over the past five years. The ratio decreased from 8.90 in 2019 to 7.88 in 2020, indicating a potential decline in the company's efficiency in generating sales from its fixed assets. However, the ratio rebounded in the subsequent years, reaching 8.45 in 2021 and peaking at 8.33 in 2022 before slightly declining to 7.61 in 2023.
Overall, the fixed asset turnover ratio suggests that Idex Corporation has been relatively successful in utilizing its fixed assets to generate sales revenue, with the ratio consistently above 7.0 over the five-year period. It indicates that the company has been efficient in managing its fixed assets to support revenue generation, although there was a slight decrease noted in the most recent year.
Further analysis, including comparisons with industry benchmarks and trend analysis, would provide a more comprehensive understanding of the company's utilization of fixed assets and its operational efficiency.
Peer comparison
Dec 31, 2023