Envista Holdings Corp (NVST)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,566,500 | 2,569,100 | 2,508,900 | 1,929,100 | 2,284,800 |
| Property, plant and equipment | US$ in thousands | 309,600 | 293,600 | 264,100 | 274,600 | 290,300 |
| Fixed asset turnover | 8.29 | 8.75 | 9.50 | 7.03 | 7.87 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,566,500K ÷ $309,600K
= 8.29
Fixed asset turnover measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover indicates better asset utilization and operational efficiency.
Envista Holdings Corp's fixed asset turnover has fluctuated over the past five years, ranging from 7.53 to 9.50. In 2023, the fixed asset turnover decreased to 8.29 from 8.75 in 2022. This decrease may indicate a slightly lower efficiency in generating revenue from its fixed assets compared to the previous year.
It is important to note that fixed asset turnover should be analyzed in conjunction with other financial ratios and qualitative factors to get a comprehensive understanding of the company's operational performance and efficiency in asset management.
Peer comparison
Dec 31, 2023