Snap-On Inc (SNA)
Fixed asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,108,400 | 5,103,000 | 5,109,800 | 5,114,600 | 5,108,300 | 5,058,700 | 4,994,300 | 4,932,600 | 4,842,500 | 4,793,500 | 4,728,700 | 4,674,000 | 4,601,700 | 4,574,300 | 4,476,700 | 4,117,300 | 3,942,200 | 3,813,500 | 3,772,000 | 3,998,500 |
| Property, plant and equipment | US$ in thousands | 541,100 | 546,700 | 536,800 | 532,700 | 537,000 | 522,500 | 521,200 | 513,600 | 509,600 | 487,100 | 499,900 | 508,800 | 513,300 | 515,500 | 520,400 | 513,100 | 519,400 | 498,200 | 501,900 | 501,100 |
| Fixed asset turnover | 9.44 | 9.33 | 9.52 | 9.60 | 9.51 | 9.68 | 9.58 | 9.60 | 9.50 | 9.84 | 9.46 | 9.19 | 8.96 | 8.87 | 8.60 | 8.02 | 7.59 | 7.65 | 7.52 | 7.98 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,108,400K ÷ $541,100K
= 9.44
The fixed asset turnover ratio for Snap-On Inc has shown a generally increasing trend from March 31, 2020, to December 31, 2024. This ratio measures how efficiently the company utilizes its fixed assets to generate revenue. The ratio increased steadily from 7.98 on March 31, 2020, to 9.44 on December 31, 2024.
A higher fixed asset turnover ratio indicates that Snap-On Inc is generating more revenue for each dollar invested in fixed assets, suggesting improved asset utilization and operational efficiency over the period under consideration. The peak ratio of 9.84 on September 30, 2022, demonstrates the company's effectiveness in generating revenue using its fixed assets.
However, there was a slight decline in the ratio towards the end of the period, dropping from 9.60 on March 31, 2024, to 9.44 on December 31, 2024. This downward trend may indicate either a decrease in sales relative to fixed assets or an increase in the book value of fixed assets, which could be due to various factors such as changes in the business environment, capital investments, or operational adjustments.
Overall, the trend in Snap-On Inc's fixed asset turnover ratio suggests a strong level of efficiency in utilizing its fixed assets over the period, with some fluctuations noted in the latter part of the timeline.
Peer comparison
Dec 31, 2024