Altair Engineering Inc (ALTR)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 608,222 | 563,439 | 519,011 | 458,323 | 458,915 |
| Property, plant and equipment | US$ in thousands | 39,803 | 37,517 | 40,478 | 36,332 | 36,297 |
| Fixed asset turnover | 15.28 | 15.02 | 12.82 | 12.61 | 12.64 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $608,222K ÷ $39,803K
= 15.28
Altair Engineering Inc's fixed asset turnover ratio has shown a consistent upward trend over the past five years, with values of 15.28 in 2023, 15.02 in 2022, 12.82 in 2021, 12.61 in 2020, and 12.64 in 2019. This indicates that the company is generating more revenue relative to its investment in fixed assets each year. A higher fixed asset turnover ratio suggests that Altair Engineering Inc is effectively utilizing its fixed assets to generate sales, which can be a positive sign of operational efficiency. This trend indicates that the company has improved its ability to generate revenue from its fixed assets over time, which reflects positively on its operational performance and management of assets.
Peer comparison
Dec 31, 2023