Ingevity Corp (NGVT)
Fixed asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,402,200 | 1,595,100 | 1,604,200 | 1,337,300 | 1,174,800 |
| Property, plant and equipment | US$ in thousands | 658,900 | 762,200 | 798,600 | 719,700 | 703,600 |
| Fixed asset turnover | 2.13 | 2.09 | 2.01 | 1.86 | 1.67 |
December 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,402,200K ÷ $658,900K
= 2.13
The fixed asset turnover ratio for Ingevity Corp has been showing a positive trend over the past five years, increasing steadily from 1.67 in December 2020 to 2.13 in December 2024. This indicates that the company is generating a higher level of sales revenue relative to its investment in fixed assets. A higher fixed asset turnover ratio suggests that Ingevity Corp is utilizing its fixed assets more efficiently to generate sales, which is a positive indicator of operational efficiency and asset utilization. Overall, the increasing trend in fixed asset turnover ratio reflects the company's ability to effectively manage its fixed assets to drive sales growth and improve operational performance.
Peer comparison
Dec 31, 2024