Ametek Inc (AME)

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	6,515,160	6,411,040	6,338,130	6,204,940	6,067,350	5,947,930	5,836,590	5,708,290	5,466,130	5,162,380	4,847,940	4,471,293	4,594,993	4,720,333	4,869,893	5,148,580	5,093,120	5,059,630	4,977,880	4,898,090
Property, plant and equipment	US$ in thousands	891,293	631,692	637,540	637,672	635,641	594,926	597,153	611,010	617,138	597,488	598,827	549,313	526,530	508,645	516,575	534,786	548,908	537,157	538,256	542,679
Fixed asset turnover		7.31	10.15	9.94	9.73	9.55	10.00	9.77	9.34	8.86	8.64	8.10	8.14	8.73	9.28	9.43	9.63	9.28	9.42	9.25	9.03

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $6,515,160K ÷ $891,293K
= 7.31

The fixed asset turnover ratio measures a company's ability to generate sales from its fixed assets. Ametek Inc's fixed asset turnover has been fluctuating over the past eight quarters, ranging from 7.40 to 10.28.

The company's fixed asset turnover increased from Q4 2022 to Q3 2023, reaching a peak of 10.28 in Q3 2023 before decreasing slightly in the most recent quarter to 7.40.

Overall, the trend indicates that Ametek Inc has been effectively utilizing its fixed assets to generate sales over the analyzed periods. However, there was a slight decline in the most recent quarter, which may warrant further investigation into the company's asset management strategies.