Patterson Companies Inc (PDCO)
Fixed asset turnover
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,568,270 | 6,471,470 | 6,499,400 | 5,912,070 | 5,490,010 |
| Property, plant and equipment | US$ in thousands | 229,081 | 212,283 | 213,140 | 219,438 | 303,725 |
| Fixed asset turnover | 28.67 | 30.49 | 30.49 | 26.94 | 18.08 |
April 27, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $6,568,270K ÷ $229,081K
= 28.67
Fixed asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates that the company is effectively utilizing its fixed assets to generate revenue.
Analyzing Patterson Companies Inc's fixed asset turnover over the past five years, we observe a fluctuating trend. In the most recent fiscal year ending April 27, 2024, the fixed asset turnover ratio was 28.67, a decrease from the previous year's ratio of 30.49. This suggests a slight decline in the company's ability to generate sales from its fixed assets.
However, despite this decrease, Patterson Companies Inc's fixed asset turnover ratio remains relatively high, indicating efficient utilization of fixed assets in revenue generation compared to the fiscal year ending April 25, 2020, where the ratio was 18.08.
It is essential to consider other factors, such as industry benchmarks and changes in the company's operational efficiency, to gain a comprehensive understanding of Patterson Companies Inc's performance in utilizing its fixed assets efficiently over the years.
Peer comparison
Apr 27, 2024