Adapthealth Corp (AHCO)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,071,300	2,862,560	2,350,980	1,023,920	488,218
Property, plant and equipment	US$ in thousands	495,101	487,079	398,577	110,468	63,559
Fixed asset turnover		6.20	5.88	5.90	9.27	7.68

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,071,300K ÷ $495,101K
= 6.20

The fixed asset turnover ratio for AdaptHealth Corp has shown some fluctuation over the past five years. The trend indicates that the company is generating sales more efficiently from its fixed assets in recent years compared to earlier periods. In 2020, there was a significant spike in the ratio, suggesting that the company was able to generate sales almost 10 times its fixed assets investment. However, in the subsequent years, the ratio decreased slightly but remained relatively high, indicating continued efficiency in utilizing fixed assets to generate revenue. Overall, the trend suggests that AdaptHealth Corp has been effectively managing and utilizing its fixed assets to drive sales growth in the past few years.