CP 9-5 Fixed asset turnover: three industries
The following table shows the revenues and average net fixed assets for a recent fiscal year for three different companies from three different industries: retailing, manufacturing, and communications.
| Average Net | ||
| Revenues | Fixed Assets | |
| (in millions) | (in millions) | |
| Walmart | $421,849 | $105,093 |
| Occidental Petroleum Corporation | 19,045 | 33,837 |
| Comcast Corporation | 37,937 | 23,685 |
a. For each company, determine the fixed asset turnover ratio. Round to two decimal places.
b. Explain Walmart’s ratio relative to the other two companies.
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