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.