Par Pacific Holdings Inc (PARR)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,174,410 | 7,264,530 | 4,643,600 | 3,054,650 | 5,326,680 |
| Property, plant and equipment | US$ in thousands | 1,073,840 | 815,792 | 833,546 | 924,253 | 961,943 |
| Fixed asset turnover | 7.61 | 8.90 | 5.57 | 3.30 | 5.54 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $8,174,410K ÷ $1,073,840K
= 7.61
The fixed asset turnover ratio measures how efficiently a company generates sales revenue from its investment in fixed assets. A higher ratio indicates better utilization of fixed assets to generate revenue.
Par Pacific Holdings Inc's fixed asset turnover has fluctuated over the past five years. In 2023, the ratio was 7.49, down from 8.76 in 2022. This suggests a decrease in the efficiency of generating sales from fixed assets year over year. However, compared to 2021 and 2020, the company has shown an improvement in utilizing its fixed assets efficiently.
It is important to continue monitoring this ratio to see if the company can maintain or improve its efficiency in generating revenue from fixed assets in the future.
Peer comparison
Dec 31, 2023