Callaway Golf Company (MODG)
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 | 4,100,200 | 4,077,300 | 4,031,900 | 3,983,500 | 3,879,900 | 3,753,324 | 3,642,683 | 3,454,542 | 3,079,082 | 2,741,987 | 2,377,880 | 1,771,541 | 1,562,865 | 1,500,177 | 1,433,952 | 1,585,033 | 1,658,125 | 1,526,862 | 1,381,303 | 1,335,016 |
| Property, plant and equipment | US$ in thousands | 2,156,500 | 2,083,100 | 2,003,100 | 1,914,200 | 1,809,600 | 1,676,500 | 1,600,100 | 1,534,500 | 1,451,400 | 1,330,330 | 1,264,890 | 1,192,280 | 146,495 | 145,758 | 149,618 | 150,969 | 132,760 | 127,077 | 121,511 | 116,523 |
| Fixed asset turnover | 1.90 | 1.96 | 2.01 | 2.08 | 2.14 | 2.24 | 2.28 | 2.25 | 2.12 | 2.06 | 1.88 | 1.49 | 10.67 | 10.29 | 9.58 | 10.50 | 12.49 | 12.02 | 11.37 | 11.46 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,100,200K ÷ $2,156,500K
= 1.90
The fixed asset turnover ratio of Topgolf Callaway Brands Corp has been relatively stable over the past 8 quarters, ranging from 1.99 to 2.33. This ratio measures the efficiency with which the company generates revenue from its fixed assets, indicating that for each dollar invested in fixed assets, the company is generating between $1.99 and $2.33 in revenue.
A consistent and relatively high fixed asset turnover ratio suggests that Topgolf Callaway Brands Corp is effectively utilizing its fixed assets to generate revenue. The increasing trend from Q4 2022 to Q1 2023 indicates improved efficiency in asset utilization. This may be attributed to better operational management or increased demand for the company's products and services during this period.
Overall, the stable and relatively high fixed asset turnover ratios reflect positively on the company's operational efficiency and ability to maximize returns from its investment in fixed assets. Monitoring this ratio over time can provide insights into the company's asset management strategies and overall business performance.
Peer comparison
Dec 31, 2023