Leggett & Platt Incorporated (LEG)
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 | 4,669,900 | 4,785,800 | 4,940,100 | 5,091,100 | 5,203,900 | 5,345,700 | 5,373,000 | 5,307,800 | 5,133,700 | 4,979,500 | 4,865,900 | 4,433,300 | 4,329,000 | 4,294,100 | 4,327,500 | 4,703,600 | 4,813,000 | 4,521,700 | 4,442,600 | 4,400,000 |
| Property, plant and equipment | US$ in thousands | 781,200 | 776,700 | 789,200 | 786,600 | 772,400 | 741,200 | 750,400 | 768,600 | 781,500 | 780,300 | 785,900 | 775,300 | 784,800 | 785,700 | 797,400 | 809,500 | 830,800 | 817,300 | 817,900 | 810,300 |
| Fixed asset turnover | 5.98 | 6.16 | 6.26 | 6.47 | 6.74 | 7.21 | 7.16 | 6.91 | 6.57 | 6.38 | 6.19 | 5.72 | 5.52 | 5.47 | 5.43 | 5.81 | 5.79 | 5.53 | 5.43 | 5.43 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,669,900K ÷ $781,200K
= 5.98
Fixed asset turnover for Leggett & Platt, Inc. has shown a decline trend over the past few quarters, dropping from 7.13 in Q3 2022 to 6.05 in Q4 2023. This ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover indicates that the company is generating more revenue per dollar of fixed assets.
The trend of decreasing fixed asset turnover may indicate that the company's fixed assets are not being efficiently utilized to generate revenue, which could be a concern for investors and creditors. It is important for the company to analyze the reasons behind this decline and take necessary steps to improve the efficiency of its fixed asset utilization.
Peer comparison
Dec 31, 2023