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.