Wolverine World Wide Inc (WWW)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,242,900 | 2,684,800 | 2,414,900 | 1,791,100 | 2,273,700 |
| Property, plant and equipment | US$ in thousands | 96,300 | 136,200 | 129,000 | 124,600 | 141,000 |
| Fixed asset turnover | 23.29 | 19.71 | 18.72 | 14.37 | 16.13 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,242,900K ÷ $96,300K
= 23.29
Wolverine World Wide Inc's fixed asset turnover has shown a positive trend over the past five years, indicating an improvement in the efficiency of utilizing its fixed assets to generate revenue. The ratio has increased from 16.13 in 2019 to 23.29 in 2023, demonstrating an upward trajectory.
A higher fixed asset turnover ratio signifies that the company is generating more sales for each dollar invested in fixed assets. This could suggest effective management of its assets and operations, leading to increased productivity and profitability.
The consistent growth in fixed asset turnover from 2019 to 2023 reflects the company's ability to optimize its asset base and generate revenue efficiently. It indicates that Wolverine World Wide Inc is making effective use of its fixed assets to drive sales growth, which could be a positive signal for investors and stakeholders.
Peer comparison
Dec 31, 2023