Adapthealth Corp (AHCO)

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	3,071,305	2,996,410	2,952,637	2,893,848	2,862,561	2,123,026	2,015,922	1,899,702	1,673,661	1,677,361	1,322,838	961,338	689,118	816,705	675,717	560,602	488,217	638,679	615,140	572,856
Property, plant and equipment	US$ in thousands	495,101	490,053	504,356	503,423	487,079	473,056	454,773	424,764	398,577	341,357	309,071	298,537	110,468	101,656	83,216	87,301	63,559	66,706	63,944	63,944
Fixed asset turnover		6.20	6.11	5.85	5.75	5.88	4.49	4.43	4.47	4.20	4.91	4.28	3.22	6.24	8.03	8.12	6.42	7.68	9.57	9.62	8.96

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,071,305K ÷ $495,101K
= 6.20

The fixed asset turnover ratio for AdaptHealth Corp over the past eight quarters has shown a consistent trend of being above 6. This indicates that the company is effectively generating revenue relative to its investment in fixed assets. The ratio remained relatively stable, ranging from 5.98 to 6.46, with the highest value recorded in Q4 2023. This suggests that the company is efficiently utilizing its fixed assets to generate sales throughout the periods analyzed. Overall, the consistent and relatively high fixed asset turnover ratio reflects the company's operational efficiency in leveraging its fixed assets to drive revenue generation.