Snap-On Inc (SNA)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,108,300 | 4,842,500 | 4,601,700 | 3,942,200 | 4,067,700 |
| Property, plant and equipment | US$ in thousands | 537,000 | 509,600 | 513,300 | 519,400 | 513,800 |
| Fixed asset turnover | 9.51 | 9.50 | 8.96 | 7.59 | 7.92 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,108,300K ÷ $537,000K
= 9.51
Snap-On Inc's fixed asset turnover has shown a consistent improvement over the past five years, indicating the company's ability to generate sales revenue relative to its investment in fixed assets. The ratio has increased from 7.92 in 2019 to 9.51 in 2023, demonstrating a positive trend in utilizing fixed assets more efficiently to generate revenue. This improvement suggests that Snap-On Inc has been able to increase its sales relative to its investments in property, plant, and equipment, potentially signaling effective asset utilization and operational efficiency. Overall, the increasing trend in fixed asset turnover indicates a positive operational performance for Snap-On Inc in recent years.
Peer comparison
Dec 31, 2023