The Coca-Cola Company (KO)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 45,754,000 | 43,004,000 | 38,655,000 | 33,014,000 | 37,266,000 |
| Property, plant and equipment | US$ in thousands | 9,236,000 | 9,841,000 | 9,920,000 | 10,777,000 | 10,838,000 |
| Fixed asset turnover | 4.95 | 4.37 | 3.90 | 3.06 | 3.44 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $45,754,000K ÷ $9,236,000K
= 4.95
The fixed asset turnover ratio for Coca-Cola Co has shown a consistent upward trend over the past five years, indicating an improvement in the company's efficiency in generating revenue from its fixed assets. The ratio has increased from 3.44 in 2019 to 4.95 in 2023. This suggests that the company has been able to generate more sales relative to its investment in fixed assets, reflecting better asset utilization and operational efficiency. The steady improvement in fixed asset turnover indicates that Coca-Cola Co has effectively managed its assets to drive revenue growth and maximize shareholder value.
Peer comparison
Dec 31, 2023