Middleby Corp (MIDD)
Fixed asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,875,160 | 4,036,600 | 4,032,850 | 3,250,790 | 2,513,260 |
| Property, plant and equipment | US$ in thousands | — | — | 443,528 | 380,980 | 344,482 |
| Fixed asset turnover | — | — | 9.09 | 8.53 | 7.30 |
December 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,875,160K ÷ $—K
= —
Fixed asset turnover is a key financial ratio that measures how efficiently a company is generating revenue from its investments in fixed assets. Looking at the trend for Middleby Corp from December 31, 2020, to December 31, 2024, we can see a consistent improvement in the company's utilization of its fixed assets.
In 2020, Middleby had a fixed asset turnover of 7.30, which means the company generated $7.30 in revenue for every dollar invested in fixed assets. Over the next few years, this ratio increased steadily to 8.53 in 2021 and further to 9.09 in 2022. This upward trend indicates that Middleby Corp has been able to generate more revenue relative to its investment in fixed assets, reflecting improved efficiency in asset utilization.
However, the data for 2023 and 2024 is not available (represented as “—”), making it difficult to assess the continuation of this positive trend. It would be important for investors and stakeholders to monitor future financial reports to determine if Middleby can sustain or improve upon its fixed asset turnover performance.
Peer comparison
Dec 31, 2024