Werner Enterprises Inc (WERN)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,283,500	3,289,980	2,734,370	2,372,180	2,463,700
Property, plant and equipment	US$ in thousands	1,972,960	1,825,280	1,613,240	1,543,260	1,526,280
Fixed asset turnover		1.66	1.80	1.69	1.54	1.61

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,283,500K ÷ $1,972,960K
= 1.66

Werner Enterprises, Inc.'s fixed asset turnover ratio has shown some fluctuation over the past five years. The fixed asset turnover ratio measures the efficiency with which the company is utilizing its fixed assets to generate revenue.

In 2023, the fixed asset turnover ratio is 1.66, representing a slight decrease from the previous year. This indicates that for every dollar invested in fixed assets, Werner Enterprises generated $1.66 in revenue.

Comparing to the prior years, the ratio was higher in 2022 at 1.80, indicating that the company was more efficient in generating revenue from its fixed assets that year. The ratio was also higher in 2021 and 2019 at 1.69 and 1.61 respectively, showing a similar level of efficiency in utilizing fixed assets.

However, in 2020, the fixed asset turnover ratio was lower at 1.54, suggesting a slight decrease in efficiency in generating revenue from fixed assets compared to the surrounding years.

Overall, while there have been some fluctuations in Werner Enterprises' fixed asset turnover ratio, the company has generally been efficient in utilizing its fixed assets to generate revenue, with slight variations over the years.