Astec Industries Inc (ASTE)

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	1,332,400	1,346,100	1,360,800	1,330,300	1,271,800	1,189,500	1,141,500	1,101,900	1,095,400	1,068,200	1,032,508	1,019,687	1,024,892	1,069,192	1,093,524	1,132,663	1,168,039	1,201,647	1,202,450	1,170,492
Property, plant and equipment	US$ in thousands	187,600	181,000	180,400	176,700	173,600	163,800	162,300	164,000	171,700	167,500	169,800	169,600	172,800	182,817	177,833	185,315	190,400	190,545	191,854	192,143
Fixed asset turnover		7.10	7.44	7.54	7.53	7.33	7.26	7.03	6.72	6.38	6.38	6.08	6.01	5.93	5.85	6.15	6.11	6.13	6.31	6.27	6.09

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,332,400K ÷ $187,600K
= 7.10

The fixed asset turnover ratio for Astec Industries Inc. has been consistently high over the past eight quarters, ranging from 6.73 to 7.56. This indicates that the company is effectively generating revenue relative to its investment in fixed assets. The increasing trend from Q1 2022 to Q2 2023 suggests that the company has been utilizing its fixed assets more efficiently to generate sales. Overall, the high and stable fixed asset turnover ratio reflects Astec Industries Inc.'s strong operational performance in leveraging its fixed assets to drive revenue generation.

Peer comparison

Dec 31, 2023

Company name

Symbol

Fixed asset turnover

Astec Industries Inc

ASTE

7.10