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.