ANI Pharmaceuticals Inc (ANIP)

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	454,334	417,871	370,670	328,961	287,962	256,461	229,582	208,526	202,730	205,047	205,953	205,960	203,642	194,356	195,209	203,434	206,547	215,703	215,069	207,980
Property, plant and equipment	US$ in thousands	44,593	44,189	44,371	43,275	43,246	42,830	43,771	52,713	52,671	39,526	40,334	40,767	41,269	40,444	39,937	40,353	40,551	39,754	38,953	38,425
Fixed asset turnover		10.19	9.46	8.35	7.60	6.66	5.99	5.25	3.96	3.85	5.19	5.11	5.05	4.93	4.81	4.89	5.04	5.09	5.43	5.52	5.41

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $454,334K ÷ $44,593K
= 10.19

The fixed asset turnover ratio for ANI Pharmaceuticals Inc has been steadily increasing over the past eight quarters, indicating that the company is becoming more efficient in generating sales revenue relative to its investment in fixed assets.

The ratio has consistently improved from 4.29 in Q1 2022 to 10.92 in Q4 2023, suggesting that ANI Pharmaceuticals has been able to generate more revenue per dollar of fixed assets employed in its operations. This trend signifies an enhanced utilization of the company's fixed assets, which can lead to improved profitability and higher returns for shareholders.

The increasing trend in fixed asset turnover is a positive sign for investors and indicates that ANI Pharmaceuticals is effectively managing its fixed assets to drive revenue growth. This improvement may reflect better operational efficiency, cost control measures, or strategic investments that are contributing to the company's overall performance and financial health.