Snap-On Inc (SNA)
Fixed asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,108,400 | 5,108,300 | 4,842,500 | 4,601,700 | 3,942,200 |
| Property, plant and equipment | US$ in thousands | 541,100 | 537,000 | 509,600 | 513,300 | 519,400 |
| Fixed asset turnover | 9.44 | 9.51 | 9.50 | 8.96 | 7.59 |
December 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,108,400K ÷ $541,100K
= 9.44
Snap-On Inc's fixed asset turnover ratio has been showing a positive trend over the past five years. Starting at 7.59 in December 31, 2020, the ratio increased steadily to 8.96 by December 31, 2021, and further improved to 9.50 by December 31, 2022. In the subsequent years, Snap-On Inc's fixed asset turnover continued to increase marginally, reaching 9.51 by December 31, 2023, and maintaining a high level at 9.44 by December 31, 2024.
This upward trend indicates that Snap-On Inc is generating more revenue relative to its investment in fixed assets, reflecting efficient utilization of its fixed assets to generate sales. The higher fixed asset turnover ratio suggests that the company is effectively managing its fixed assets to drive revenue growth. Overall, the increasing trend in fixed asset turnover is a positive indicator of Snap-On Inc's operational efficiency and effective asset utilization.
Peer comparison
Dec 31, 2024