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.
Peer comparison
Dec 31, 2023