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