Computing and Interpreting the Fixed Asset Turnover Ratio from a Financial Analyst’s Perspective
The following data were included in a recent Apple Inc. annual report ($ in millions):
In millions | 2006 | 2007 | 2008 | 2009 |
Net sales | $19,315 | $24.006 | $32.479 | $36,537 |
Net property, plant, and equipment | 1.281 | 1.832 | 2.954 | 2.455 |
Required:
1. Compute Apple’s fixed asset turnover ratio for 2007, 2008, and 2009.
2. How might a financial analyst interpret the results?
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