RB Global Inc. (RBA)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,679,600 | 1,733,800 | 1,416,970 | 1,377,260 | 1,318,640 |
| Property, plant and equipment | US$ in thousands | 1,200,900 | 459,100 | 449,087 | 492,127 | 484,482 |
| Fixed asset turnover | 3.06 | 3.78 | 3.16 | 2.80 | 2.72 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,679,600K ÷ $1,200,900K
= 3.06
RB Global Inc.'s fixed asset turnover has displayed fluctuations over the past five years. In 2023, the company achieved a fixed asset turnover of 3.06, showing a decline from the previous year. This decrease may indicate a reduction in the efficiency of utilizing fixed assets to generate sales revenue. Despite the dip, the current ratio remains above 3, indicating that the company generated $3.06 in sales revenue for every dollar invested in fixed assets in 2023. Comparing this to previous years, the company's fixed asset turnover has shown a general upward trend, with peak performance in 2022 at 3.78. The improvement between 2019 and 2022 suggests a more effective utilization of fixed assets in revenue generation. However, the slight decline in 2023 warrants attention, and further analysis is needed to understand the factors contributing to this change.
Peer comparison
Dec 31, 2023