Kellanova (K)
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 | 13,122,000 | 13,112,000 | 13,108,000 | 13,621,000 | 13,951,000 | 14,207,000 | 14,578,000 | 14,269,000 | 14,181,000 | 14,225,000 | 14,032,000 | 13,942,000 | 13,770,000 | 13,529,000 | 13,472,000 | 13,468,000 | 13,578,000 | 13,672,000 | 13,769,000 | 13,668,000 |
| Property, plant and equipment | US$ in thousands | 3,212,000 | 3,762,000 | 3,781,000 | 3,786,000 | 3,090,000 | 3,564,000 | 3,656,000 | 3,773,000 | 3,827,000 | 3,753,000 | 3,666,000 | 3,636,000 | 3,713,000 | 3,484,000 | 3,436,000 | 3,440,000 | 3,612,000 | 3,493,000 | 3,526,000 | 3,733,000 |
| Fixed asset turnover | 4.09 | 3.49 | 3.47 | 3.60 | 4.51 | 3.99 | 3.99 | 3.78 | 3.71 | 3.79 | 3.83 | 3.83 | 3.71 | 3.88 | 3.92 | 3.92 | 3.76 | 3.91 | 3.90 | 3.66 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $13,122,000K ÷ $3,212,000K
= 4.09
Kellanova's fixed asset turnover ratio has shown some variability over the past few years. The ratio measures the efficiency of the company in generating sales from its fixed assets. A higher fixed asset turnover ratio indicates that the company is utilizing its fixed assets effectively to generate revenue.
Looking at the trend in Kellanova's fixed asset turnover ratio, we can observe fluctuations in the ratio over the period. The ratio has ranged from a low of 3.47 to a high of 4.51, with an average ratio of approximately 3.88 over the period analyzed.
In general, a fixed asset turnover ratio above 3 indicates that Kellanova is efficiently using its fixed assets to generate sales. The peak ratio of 4.51 suggests that the company was particularly effective in utilizing its fixed assets to generate revenue at that point in time.
However, the variability in the ratio over the period indicates that there may have been fluctuations in the company's sales relative to its investment in fixed assets. It would be important to further investigate the reasons behind these fluctuations to understand the underlying drivers of the changes in the fixed asset turnover ratio and assess the company's overall operational efficiency.
Peer comparison
Dec 31, 2023