Apple Inc (AAPL)
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 | 383,706,000 | 380,282,000 | 381,105,000 | 382,546,000 | 384,297,000 | 391,397,000 | 384,766,000 | 383,295,000 | 375,622,000 | 363,172,000 | 345,182,000 | 323,401,000 | 292,043,000 | 272,276,000 | 271,618,000 | 265,573,000 | 265,022,000 | 257,408,000 | 256,268,000 | 256,590,000 |
| Property, plant and equipment | US$ in thousands | 43,666,000 | 43,715,000 | 43,550,000 | 43,398,000 | 42,951,000 | 42,117,000 | 40,335,000 | 39,304,000 | 39,245,000 | 39,440,000 | 38,615,000 | 37,815,000 | 37,933,000 | 36,766,000 | 35,687,000 | 35,889,000 | 37,031,000 | 37,378,000 | 37,636,000 | 38,746,000 |
| Fixed asset turnover | 8.79 | 8.70 | 8.75 | 8.81 | 8.95 | 9.29 | 9.54 | 9.75 | 9.57 | 9.21 | 8.94 | 8.55 | 7.70 | 7.41 | 7.61 | 7.40 | 7.16 | 6.89 | 6.81 | 6.62 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $383,706,000K ÷ $43,666,000K
= 8.79
The fixed asset turnover ratio for Apple Inc has exhibited fluctuations over the recent quarters. The ratio indicates how efficiently the company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio typically suggests better efficiency in asset utilization.
Looking at the trend, the fixed asset turnover ratio has generally been on a decreasing trend since the beginning of 2022, reaching a peak of 9.75 in March 2022 and then gradually declining to 8.79 by the end of December 2023. However, it's important to note that despite the decrease, the ratio has remained relatively high, indicating Apple's ability to generate significant sales revenue relative to its investment in fixed assets.
The fluctuations in the ratio may be influenced by various factors, such as changes in sales volumes, pricing strategies, asset utilization, and technological advancements. Further analysis of the company's financial performance and operational efficiency would provide a more in-depth understanding of the drivers behind the changes in the fixed asset turnover ratio.
Overall, the historical trend of the fixed asset turnover ratio for Apple Inc suggests that the company has been effectively leveraging its fixed assets to generate revenue, with some fluctuations in efficiency over the quarters.
Peer comparison
Dec 31, 2023