Amgen Inc (AMGN)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 25,568,000 | 51,272,000 | 50,799,000 | 25,424,000 | 23,362,000 |
| Property, plant and equipment | US$ in thousands | 5,941,000 | 5,427,000 | 5,184,000 | 4,889,000 | 4,928,000 |
| Fixed asset turnover | 4.30 | 9.45 | 9.80 | 5.20 | 4.74 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $25,568,000K ÷ $5,941,000K
= 4.30
AMGEN Inc.'s fixed asset turnover ratio has exhibited a slightly decreasing trend over the past five years, declining from 5.20 in 2020 to 4.74 in 2023. This ratio indicates that the company generated $4.74 in sales revenue for every dollar invested in fixed assets in 2023. Despite the slight decrease, the ratio remains relatively stable and within a narrow range, suggesting efficient utilization of fixed assets in generating sales. AMGEN Inc. has effectively managed its fixed assets to generate revenue, although further analysis in conjunction with other financial metrics would provide a more comprehensive view of the company's overall operational efficiency and asset management practices.
Peer comparison
Dec 31, 2023