Allegiant Travel Company (ALGT)

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	2,509,858	2,510,405	2,505,371	2,451,408	2,301,830	2,187,165	2,086,309	1,928,895	1,707,910	1,457,587	1,199,102	860,016	990,073	1,204,585	1,440,110	1,798,522	1,840,963	1,792,004	1,748,604	1,693,625
Property, plant and equipment	US$ in thousands	3,447,110	3,328,120	3,176,520	2,946,940	2,810,690	2,738,520	2,555,330	2,427,180	2,259,510	2,147,990	2,116,620	2,072,210	2,050,310	2,004,830	2,076,450	2,210,720	2,236,810	2,102,820	2,019,770	1,940,480
Fixed asset turnover		0.73	0.75	0.79	0.83	0.82	0.80	0.82	0.79	0.76	0.68	0.57	0.42	0.48	0.60	0.69	0.81	0.82	0.85	0.87	0.87

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,509,858K ÷ $3,447,110K
= 0.73

Allegiant Travel's fixed asset turnover ratio has shown some fluctuations over the past eight quarters. The ratio indicates how efficiently the company generates revenue from its investment in fixed assets.

In Q4 2023, the fixed asset turnover was 0.73, which suggests that for every dollar invested in fixed assets, the company generated $0.73 in revenue. This ratio increased slightly from the previous quarter at 0.75 in Q3 2023 but was lower compared to Q1 and Q2 of 2023, where it stood at 0.79 and 0.83, respectively.

Looking back at the same quarter in the previous year, Q4 2022, the fixed asset turnover was slightly higher at 0.82, indicating a decrease in efficiency in generating revenue from fixed assets in Q4 2023 compared to Q4 2022.

Overall, Allegiant Travel's fixed asset turnover has been relatively stable around the 0.80 mark over the past eight quarters, with some minor fluctuations. This indicates that the company has been able to effectively utilize its fixed assets to generate revenue, although there may be room for improvement in optimizing the efficiency of these assets in revenue generation.