AAON Inc (AAON)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,164,845 | 1,115,007 | 1,046,379 | 974,572 | 891,972 | 773,593 | 671,628 | 605,145 | 538,153 | 517,306 | 512,603 | 495,316 | 517,101 | 522,975 | 501,374 | 494,292 | 469,759 | 459,553 | 458,954 | 449,244 |
| Property, plant and equipment | US$ in thousands | 369,947 | 356,830 | 347,396 | 324,566 | 304,745 | 296,454 | 292,464 | 266,370 | 258,062 | 240,581 | 239,764 | 232,648 | 223,340 | 208,878 | 204,428 | 193,029 | 178,094 | 175,738 | 167,631 | 166,652 |
| Fixed asset turnover | 3.15 | 3.12 | 3.01 | 3.00 | 2.93 | 2.61 | 2.30 | 2.27 | 2.09 | 2.15 | 2.14 | 2.13 | 2.32 | 2.50 | 2.45 | 2.56 | 2.64 | 2.61 | 2.74 | 2.70 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,164,845K ÷ $369,947K
= 3.15
The fixed asset turnover ratio for AAON Inc. has shown a generally increasing trend over the past eight quarters, indicating that the company has been more efficient in generating sales revenue from its fixed assets.
The ratio has steadily increased from 2.26 in Q1 2022 to 3.16 in Q4 2023. This upward trend suggests that AAON has been utilizing its fixed assets more effectively to generate sales over time.
The highest fixed asset turnover ratio of 3.16 was achieved in Q4 2023, indicating that for every dollar invested in fixed assets, AAON generated $3.16 in sales revenue. This signifies that AAON has been efficient in utilizing its fixed assets to drive revenue generation.
Overall, the increasing trend in fixed asset turnover reflects positively on AAON's operational efficiency and management of its fixed asset base. It suggests that the company has been able to maximize the productivity of its fixed assets to generate sales and drive business growth.
Peer comparison
Dec 31, 2023