Altair Engineering Inc (ALTR)

Fixed asset turnover

Mar 31, 2024 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
Revenue (ttm) US$ in thousands 612,557 608,222 600,592 585,021 571,392 563,439 536,037 540,111 530,033 519,011 510,152 496,321 475,198 458,323 456,770 449,723 461,129 459,602 446,656 443,361
Property, plant and equipment US$ in thousands 38,837 39,803 38,167 39,107 38,260 37,517 38,938 39,370 40,188 40,478 38,711 39,610 39,143 36,332 34,401 34,456 35,449 36,297 33,720 34,050
Fixed asset turnover 15.77 15.28 15.74 14.96 14.93 15.02 13.77 13.72 13.19 12.82 13.18 12.53 12.14 12.61 13.28 13.05 13.01 12.66 13.25 13.02

March 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $612,557K ÷ $38,837K
= 15.77

Altair Engineering Inc's fixed asset turnover ratio shows a consistent trend of improvement over the past few quarters. The ratio has been increasing steadily, indicating that the company is generating more revenue from its fixed assets. This implies that Altair Engineering is managing its fixed assets efficiently and effectively utilizing them to generate sales. The increasing trend in fixed asset turnover suggests that the company is becoming more productive in utilizing its fixed assets to generate revenue. This improved efficiency can lead to higher profitability and overall financial performance for the company in the long run.