Philip Morris International Inc (PM)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 33,808,000 | 115,302,000 | 116,285,000 | 107,266,000 | 110,502,000 |
| Property, plant and equipment | US$ in thousands | 7,405,000 | 6,587,000 | 6,060,000 | 6,365,000 | 6,631,000 |
| Fixed asset turnover | 4.57 | 17.50 | 19.19 | 16.85 | 16.66 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $33,808,000K ÷ $7,405,000K
= 4.57
The fixed asset turnover ratio for Philip Morris International Inc has shown a fluctuating trend over the past five years. The ratio stood at 4.68 in 2023, a slight decrease from 4.73 in 2022. However, it is important to note that the ratio remains relatively high, indicating the company's efficiency in generating revenue from its fixed assets.
Looking at historical data, the ratio peaked at 5.09 in 2021, reflecting a significant improvement in asset utilization compared to the previous years. In 2020 and 2019, the fixed asset turnover ratio was 4.51 and 4.49, respectively, showing consistent performance in this area.
Overall, the trend in fixed asset turnover suggests that Philip Morris International Inc has been effectively leveraging its fixed assets to generate revenue, with some fluctuations but generally maintaining a strong level of efficiency in this aspect of operations.
Peer comparison
Dec 31, 2023