Alpha and Omega Semiconductor Ltd (AOSL)

Fixed asset turnover

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Revenue (ttm)	US$ in thousands	680,974	666,399	658,528	657,274	657,503	640,003	663,478	691,321	723,755	794,434	798,993	777,552	760,902	726,875	692,386	656,902	601,988	539,628	498,658	464,909
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	—	357,831	358,157	350,950	363,721	342,340	245,770	219,006	441,279	471,637	432,569	430,808	421,642	445,288
Fixed asset turnover		—	—	—	—	—	—	—	1.93	2.02	2.26	2.20	2.27	3.10	3.32	1.57	1.39	1.39	1.25	1.18	1.04

March 31, 2025 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $680,974K ÷ $—K
= —

The fixed asset turnover ratio for Alpha and Omega Semiconductor Ltd demonstrates notable fluctuations over the specified periods. Beginning at 1.04 as of June 30, 2020, the ratio exhibits a steady upward trend through the subsequent quarters, reaching a peak of 3.32 on December 31, 2021. This increase indicates that the company increasingly utilized its fixed assets to generate sales during this period, reflecting improved efficiency or expanded sales volume relative to its fixed asset base.

Following this peak, a marked decline occurs, with the ratio decreasing to 3.10 by March 31, 2022, and further down to 2.27 by June 30, 2022. The downward trend continues through the next quarters, ending at approximately 2.02 on March 31, 2023. These reductions suggest a decrease in asset utilization efficiency, potentially attributable to asset expansion without a proportional increase in sales, asset impairment, or shifts in operational focus.

The ratio stabilizes somewhat in the latter part of 2022, maintaining values around 2.20 to 2.26, indicating a sustained level of fixed asset efficiency after earlier declines. The data beyond March 2023 onward is unavailable, preventing further analysis of subsequent performance trends.

Overall, the company's fixed asset turnover experienced a significant rise in 2020 and 2021, reaching its peak at the end of 2021; however, it subsequently declined, reflecting a possible normalization of asset utilization or challenges in translating fixed asset investments into proportionate sales growth.