Trimble Inc (TRMB)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,798,700 | 3,676,300 | 3,659,400 | 3,152,000 | 3,271,300 |
| Property, plant and equipment | US$ in thousands | 202,500 | 219,000 | 233,200 | 251,800 | 241,400 |
| Fixed asset turnover | 18.76 | 16.79 | 15.69 | 12.52 | 13.55 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,798,700K ÷ $202,500K
= 18.76
Trimble Inc's fixed asset turnover has shown a consistent upward trend over the past five years. The ratio increased from 13.55 in 2019 to 18.76 in 2023, indicating that the company is generating more revenue per dollar invested in fixed assets. This improvement suggests that Trimble Inc has been able to efficiently utilize its fixed assets to drive sales and productivity. The steady increase in fixed asset turnover reflects the company's effectiveness in managing and optimizing its asset base to generate higher revenues, which is a positive sign for investors and stakeholders.
Peer comparison
Dec 31, 2023