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.

Revenues

(in millions)

Average Net Fixed Assets

(in millions)

Walmart $446,950 $110,101 Occidental Petroleum Corporation 24,172 48,874 Comcast Corporation 62,570 27,396

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.