Monro Muffler Brake Inc (MNRO)
Fixed asset turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,258,140 | 1,309,380 | 1,335,730 | 1,098,070 | 1,228,730 |
| Property, plant and equipment | US$ in thousands | 280,154 | 304,989 | 315,193 | 327,063 | 328,637 |
| Fixed asset turnover | 4.49 | 4.29 | 4.24 | 3.36 | 3.74 |
March 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,258,140K ÷ $280,154K
= 4.49
Fixed asset turnover measures how efficiently a company is generating revenue from its fixed assets. Monro Muffler Brake Inc's fixed asset turnover has shown a positive trend over the past five years, increasing from 3.74 in 2020 to 4.49 in 2024. This indicates that the company is generating more revenue for each dollar invested in fixed assets.
A higher fixed asset turnover ratio typically suggests better operational efficiency and utilization of fixed assets. Monro Muffler Brake Inc's improving fixed asset turnover ratio reflects positively on its ability to effectively utilize its fixed assets to generate sales. This can be attributed to factors such as effective asset management, technological advancements, and increased productivity.
Overall, the increasing trend in fixed asset turnover for Monro Muffler Brake Inc indicates a positive financial performance and operational efficiency in utilizing its fixed assets to drive revenue growth.
Peer comparison
Mar 31, 2024