Snap-On Inc (SNA)
Fixed asset turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 4,067,700 | 4,063,800 | 4,058,000 | 4,059,200 |
| Property, plant and equipment | US$ in thousands | 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 | 513,800 | 511,800 | 506,400 | 497,000 |
| Fixed asset turnover | 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 | 7.92 | 7.94 | 8.01 | 8.17 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,108,300K ÷ $537,000K
= 9.51
The fixed asset turnover ratio for Snap-On Inc has shown varying levels over the past years. The ratio indicates how efficiently the company is utilizing its fixed assets to generate sales revenue. A higher fixed asset turnover ratio generally signifies better asset utilization.
In the recent quarters, from December 2021 to December 2023, Snap-On Inc has maintained a relatively stable fixed asset turnover ratio, ranging between 9.19 and 9.68. This consistency in the ratio suggests that the company has been effectively managing and utilizing its fixed assets to generate sales.
The slight fluctuations in the fixed asset turnover ratio may be attributed to changes in the company's sales volume relative to its investments in fixed assets. Overall, the consistently high fixed asset turnover ratio indicates that Snap-On Inc is efficiently utilizing its fixed assets to generate revenue, which is a positive indicator of operational efficiency and effectiveness.
Peer comparison
Dec 31, 2023