A10 Network (ATEN)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	251,700	280,338	250,042	225,526	212,391
Property, plant and equipment	US$ in thousands	29,876	19,743	10,692	7,888	7,656
Fixed asset turnover		8.42	14.20	23.39	28.59	27.74

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $251,700K ÷ $29,876K
= 8.42

Fixed asset turnover measures how efficiently a company generates sales revenue from its investments in fixed assets. A higher fixed asset turnover ratio indicates better utilization of fixed assets to generate revenue. A10 Networks Inc's fixed asset turnover has shown a declining trend over the past five years, from 27.77 in 2019 to 8.42 in 2023. This decrease suggests a decrease in the efficiency of the company in generating revenue from its fixed assets. The significant drop in fixed asset turnover from 2021 to 2022 and from 2022 to 2023 warrants further investigation into the company's asset management strategies and operational efficiency.