In this case study we want to calculate the assets efficient ratios for our four companies, starting with Coca-Cola. So we'll start with the Capex over sales. we'll find the Capex information in the middle of our balance sheet section.

There it is, and divide it by our sales up at the top, revenues.

The last one is then going to be Capex again. Now I can see that's in C52, so I'll just type that in and then divide it by our D&A, depreciation, amortization again, up in the income statement. So we'll just go find that, copy both to the right and then copy them into the other three companies. And let's see what we've found. Well, Coca-Cola sales went down between years 19 and 20 by a quite large, 11%. If we were expecting Capex to track the sales, then we would expect the 5.5% ratio to stay flat. Coca-Cola clearly seeing a period of disruption in front of them have decided to reduce their Capex quite dramatically. It's almost halved in fact, if you go and have a look at their Capex figure. We see a similar trend being shown from the Capex over D&A. Their D&A isn't going to change too much over the years, but their Capex has reduced dramatically. Now, Keurig Dr. Pepper, their sales had gone up ever so slightly, again, we would expect Capex's sales to say relatively flat, but it has dramatically increased here. KDP, clearly thinking that maybe there are opportunities to be had or maybe they had Capex plans that they couldn't delay. Again, the same thing's being seen in their Capex to D&A, it's going up. National Beverage is a similar story to Coca-Cola, their sales were coming down. They've dramatically cut back on their Capex, trying to retain some cash maybe, a little bit nervous in uncertain times. The interesting one though is Monster. Monster had a fantastic year for their sales growth. It went up by over 9%, but they still were following the majority of the markets by reducing their Capex dramatically, it came down by quite a stark amount. Their Capex to D&A telling the same story. So the industry being quite cautious in these uncertain times, that we're seeing from those sales figures.