Kontoor Brands Inc (KTB)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,579,340	2,604,520	2,434,200	2,097,840	2,548,840
Property, plant and equipment	US$ in thousands	112,045	104,465	105,155	118,897	132,192
Fixed asset turnover		23.02	24.93	23.15	17.64	19.28

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,579,340K ÷ $112,045K
= 23.02

The fixed asset turnover ratio for Kontoor Brands Inc has fluctuated over the past five years. In 2023, the ratio stands at 23.02, a decrease from 24.93 in 2022 and 23.15 in 2021. Despite the slight drop, the company's efficiency in generating sales from fixed assets remains high compared to 2020 and 2019, where the ratios were 17.64 and 19.28, respectively. This indicates that Kontoor Brands Inc has been effectively utilizing its fixed assets to drive revenue in recent years. However, a downward trend in fixed asset turnover may suggest a potential slowdown in asset utilization efficiency that warrants further investigation.