Ryder System Inc (R)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 11,783,000 | 11,848,000 | 11,959,000 | 12,109,000 | 12,011,000 | 11,523,090 | 10,947,140 | 10,295,380 | 9,663,000 | 9,275,750 | 8,967,280 | 8,480,320 | 8,420,010 | 8,483,720 | 8,557,070 | 8,906,780 | 8,925,800 | 8,909,410 | 8,845,160 | 8,690,070 |
| Property, plant and equipment | US$ in thousands | 1,169,000 | 1,164,000 | 1,132,000 | 1,093,000 | 1,148,000 | 1,117,570 | 1,070,030 | 1,045,950 | 984,978 | 942,393 | 932,549 | 930,501 | 927,058 | 913,387 | 913,080 | 906,712 | 917,799 | 891,689 | 866,908 | 871,524 |
| Fixed asset turnover | 10.08 | 10.18 | 10.56 | 11.08 | 10.46 | 10.31 | 10.23 | 9.84 | 9.81 | 9.84 | 9.62 | 9.11 | 9.08 | 9.29 | 9.37 | 9.82 | 9.73 | 9.99 | 10.20 | 9.97 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $11,783,000K ÷ $1,169,000K
= 10.08
The fixed asset turnover ratio measures how efficiently a company utilizes its fixed assets to generate revenue. A higher ratio indicates that a company is effectively generating sales from its investment in fixed assets.
In the case of Ryder System, Inc., the fixed asset turnover ratio has been fluctuating over the past eight quarters, ranging from 1.09 to 1.30. The highest ratio was observed in Q1 2023, indicating that the company generated $1.30 in revenue for every $1 of fixed assets invested. This suggests that Ryder System, Inc. was efficient in utilizing its fixed assets to generate sales during that quarter.
Overall, the trend in the fixed asset turnover ratio for Ryder System, Inc. shows some variability but generally remains above 1. This indicates that the company has been effectively utilizing its fixed assets to drive revenue generation, reflecting a reasonable level of efficiency in its operations.
Peer comparison
Dec 31, 2023