Sales to Net Fixed Assets =   Net Revenue
                                                        Net Fixed Assets

The Sales to Net Fixed Assets ratio represents the productivity of property, plant, and equipment as measured by the level of revenues.  Note that heavily depreciated assets can distort any ratio involving net fixed assets.

    Sales to Working Capital =      Net Revenue
                                                       Net Working Capital

The Sales to Working Capital ratio measures the ability to generate sales based upon working capital.  Note that seasonal fluctuations in working capital (or a deficit value) may throw this ratio off.

Smith Heating and Cooling, Inc. generates $2.64 in sales for every dollar of net fixed assets.  To provide context, an analyst would compare this number to previous years and to industry figures.

The company generates $29.50 in sales per dollar of working capital.  This number seems large; although, it is inflated by what appears to be an unusually small amount of working capital.

Productivity may also be measured by profit before taxes or cash flow.  Such values can be substituted into the numerator to create additional measures of productivity.