John Bean Technologies Corporation (JBT)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,704,500 | 2,166,000 | 1,868,300 | 1,727,800 | 1,945,700 |
| Property, plant and equipment | US$ in thousands | 243,300 | 245,400 | 267,600 | 268,000 | 265,600 |
| Fixed asset turnover | 7.01 | 8.83 | 6.98 | 6.45 | 7.33 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,704,500K ÷ $243,300K
= 7.01
Fixed asset turnover is a financial ratio that measures how effectively a company is utilizing its fixed assets to generate sales. John Bean Technologies Corp's fixed asset turnover has shown some fluctuations over the past five years.
In 2023, the fixed asset turnover ratio was 6.71, indicating that for every dollar invested in fixed assets, the company generated $6.71 in sales. This represents a decrease from the previous year's ratio of 8.03. The drop in the ratio suggests that the company's fixed assets were less efficient in generating revenue in 2023 compared to 2022.
Looking further back, in 2021, the fixed asset turnover was 6.98, which was slightly higher than in 2023. In 2020, the ratio was 6.45, indicating a decrease in asset utilization efficiency compared to the previous year. The highest ratio in the past five years was in 2019, where the fixed asset turnover stood at 7.33, signaling that the company was more efficient in utilizing its fixed assets to generate sales.
Overall, fluctuations in fixed asset turnover can be influenced by various factors such as changes in production efficiency, asset management, or sales volume. Further analysis of the company's operations and financial performance would be needed to fully understand the reasons behind these fluctuations and assess the effectiveness of John Bean Technologies Corp's utilization of its fixed assets.
Peer comparison
Dec 31, 2023