Addus HomeCare Corporation (ADUS)

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	1,051,791	1,022,325	991,801	968,399	943,504	921,874	898,854	880,430	859,640	832,331	810,463	777,659	762,842	759,222	735,551	700,648	650,057	597,350	565,258	547,388
Property, plant and equipment	US$ in thousands	24,011	20,516	19,607	20,248	21,182	17,428	17,733	19,073	18,483	18,614	18,708	19,322	19,749	19,305	14,707	13,791	12,156	11,527	11,428	10,843
Fixed asset turnover		43.80	49.83	50.58	47.83	44.54	52.90	50.69	46.16	46.51	44.72	43.32	40.25	38.63	39.33	50.01	50.80	53.48	51.82	49.46	50.48

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,051,791K ÷ $24,011K
= 43.80

Addus HomeCare Corporation's fixed asset turnover ratio has shown a fluctuating trend over the past eight quarters. The ratio measures the efficiency of the company in generating revenue from its investment in fixed assets. A higher ratio indicates that the company is effectively utilizing its fixed assets to generate sales.

Based on the data provided, the fixed asset turnover ratio ranged from 44.09 to 53.29 over the period. The ratio peaked at 53.29 in Q3 2022, indicating that the company generated $53.29 in revenue for every dollar invested in fixed assets during that quarter. However, the ratio decreased to its lowest at 44.09 in Q4 2023, suggesting a decline in efficiency in generating sales from fixed assets.

The overall trend indicates some variability in the efficiency of Addus HomeCare Corporation in utilizing its fixed assets to generate revenue. It would be important for the company to further analyze the factors contributing to these fluctuations and consider strategies to improve the utilization of its fixed assets to enhance its financial performance.