World Kinect Corporation (WKC)

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	47,710,600	49,585,300	53,001,300	59,142,700	59,043,100	55,108,200	47,797,800	37,761,200	31,337,100	26,096,400	22,228,200	18,301,000	20,358,300	25,014,300	29,854,300	36,155,400	36,819,000	37,449,500	38,556,300	39,247,700
Property, plant and equipment	US$ in thousands	515,300	509,800	507,300	497,000	484,200	475,300	476,000	473,900	348,900	334,300	334,200	334,600	342,600	347,800	368,400	360,000	360,900	366,500	359,300	356,100
Fixed asset turnover		92.59	97.26	104.48	119.00	121.94	115.94	100.42	79.68	89.82	78.06	66.51	54.70	59.42	71.92	81.04	100.43	102.02	102.18	107.31	110.22

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $47,710,600K ÷ $515,300K
= 92.59

The fixed asset turnover of World Kinect Corp has shown a fluctuating trend over the past eight quarters. The ratio ranged from a low of 79.68 in Q1 2022 to a high of 121.94 in Q4 2022. In Q4 2023, the fixed asset turnover ratio decreased to 92.59 compared to the previous quarter's 97.26. This decline may indicate a decrease in the company's efficiency in generating sales relative to its investment in fixed assets. However, it is important to consider other factors such as changes in sales volume, asset base, or management strategies that could impact this ratio. Overall, a higher fixed asset turnover ratio is generally preferred as it indicates that the company is generating more revenue per dollar of investment in fixed assets.