Middleby Corp (MIDD)
Fixed asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,875,161 | 3,869,861 | 3,907,703 | 3,956,137 | 4,036,611 | 4,059,731 | 4,071,951 | 4,045,571 | 4,032,847 | 3,867,563 | 3,692,237 | 3,487,410 | 3,250,792 | 3,113,672 | 2,930,652 | 2,593,856 | 2,513,257 | 2,571,587 | 2,661,076 | 2,950,103 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 483,064 | 461,728 | 443,528 | 423,947 | 417,688 | 382,574 | 380,980 | 370,266 | 336,924 | 336,257 | 344,482 | 343,860 | 343,369 | 345,824 |
| Fixed asset turnover | — | — | — | — | — | — | 8.43 | 8.76 | 9.09 | 9.12 | 8.84 | 9.12 | 8.53 | 8.41 | 8.70 | 7.71 | 7.30 | 7.48 | 7.75 | 8.53 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,875,161K ÷ $—K
= —
Middleby Corp's fixed asset turnover ratio has shown a generally positive trend over the past few years. The ratio has fluctuated between 7.30 and 9.12, indicating that the company is effectively generating revenue relative to its investment in fixed assets.
The ratio peaked at 9.12 on March 31, 2022, suggesting that Middleby Corp was able to efficiently utilize its fixed assets to generate sales during that period. However, the ratio slightly declined to 8.43 on June 30, 2023.
It is important to note that the data for September 30, 2023, and beyond is not available, possibly indicating that the company did not report financial results for those periods or there were some data reporting issues.
Overall, a higher fixed asset turnover ratio indicates better efficiency in asset utilization, which may lead to improved profitability for Middleby Corp.
Peer comparison
Dec 31, 2024