Artivion Inc (AORT)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	331,083	292,771	298,836	253,227	276,222
Property, plant and equipment	US$ in thousands	34,632	38,674	37,521	33,077	32,150
Fixed asset turnover		9.56	7.57	7.96	7.66	8.59

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $331,083K ÷ $34,632K
= 9.56

Artivion Inc's fixed asset turnover has been consistently strong over the past five years, exhibiting an increasing trend from 2019 to 2023. The ratio indicates that the company generates significant sales revenue relative to its investment in fixed assets. This suggests efficient utilization of fixed assets to generate sales, reflecting operational effectiveness and asset productivity. The improving trend in fixed asset turnover implies that Artivion Inc has been able to generate more sales revenue per dollar invested in fixed assets over time. This trend is generally viewed positively by investors and creditors as it signifies effective management of resources and potential for improved profitability.