Monro Muffler Brake Inc (MNRO)
Fixed asset turnover
| Mar 31, 2024 | Dec 23, 2023 | Sep 23, 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,257,454 | 1,259,563 | 1,276,197 | 1,283,020 | 1,306,258 | 1,322,070 | 1,328,931 | 1,346,241 | 1,335,392 | 1,311,778 | 1,253,445 | 1,193,287 | 1,098,172 | 1,077,405 | 1,121,963 | 1,157,883 | 1,227,770 | 1,229,332 | 1,210,315 | 1,193,432 |
| Property, plant and equipment | US$ in thousands | 280,154 | 284,563 | 289,568 | 300,097 | 304,989 | 307,427 | 307,585 | 307,932 | 315,193 | 315,302 | 315,112 | 321,465 | 327,063 | 334,293 | 328,262 | 328,915 | 328,637 | 326,273 | 315,466 | 311,018 |
| Fixed asset turnover | 4.49 | 4.43 | 4.41 | 4.28 | 4.28 | 4.30 | 4.32 | 4.37 | 4.24 | 4.16 | 3.98 | 3.71 | 3.36 | 3.22 | 3.42 | 3.52 | 3.74 | 3.77 | 3.84 | 3.84 |
March 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,257,454K ÷ $280,154K
= 4.49
The fixed asset turnover ratio of Monro Muffler Brake Inc has shown some fluctuations over the recent quarters, indicating changes in the efficiency of utilizing its fixed assets to generate sales. The ratio has been relatively stable around the range of 4.1 to 4.5 from March 2020 to March 2024.
A higher fixed asset turnover ratio signifies that the company is generating more sales for each dollar invested in fixed assets, indicating better efficiency in asset utilization. Monro Muffler Brake Inc's ratio has generally maintained above 4, indicating a solid level of asset efficiency.
However, there have been slight fluctuations in the ratio over the quarters, with a peak of 4.49 in March 2024 and a low of 3.22 in December 2020. These fluctuations may be attributed to changes in sales revenue and the level of fixed assets over time.
Overall, Monro Muffler Brake Inc has shown a commendable level of efficiency in utilizing its fixed assets to generate sales revenue, as demonstrated by the relatively consistent and healthy fixed asset turnover ratio observed in the analyzed periods.
Peer comparison
Mar 31, 2024