Computing and Interpreting the Fixed Asset Turnover Ratio from a Financial Analysts Perspective
The following data were included in a recent Papaya Inc. annual report (in millions):
| 2010 |
2011 |
2012 |
2013 |
| Net revenue |
$77,225 |
$128,119 |
$179,500 |
$183,910 |
| Net property, plant, and equipment |
4,910 |
8,880 |
15,570 |
15,400 |
Required
Compute Papaya's fixed asset turnover ratio for 2011, 2012, and 2013. (Do not round intermediate calculations. Round your answers to 1 decimal place.)