A10 Network (ATEN)

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	251,700	262,318	275,268	276,946	280,441	273,478	266,347	257,358	250,042	242,026	233,274	226,605	225,526	223,187	219,382	216,035	212,406	213,915	221,580	233,109
Property, plant and equipment	US$ in thousands	29,876	26,054	25,210	22,305	19,743	17,958	15,046	13,460	10,692	9,555	9,148	8,223	7,888	7,297	7,033	7,462	7,656	8,846	7,408	7,676
Fixed asset turnover		8.42	10.07	10.92	12.42	14.20	15.23	17.70	19.12	23.39	25.33	25.50	27.56	28.59	30.59	31.19	28.95	27.74	24.18	29.91	30.37

December 31, 2023 calculation

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

The fixed asset turnover ratio for A10 Networks Inc has been consistently increasing over the past eight quarters, indicating an improvement in the company's efficiency in generating revenue from its fixed assets. The ratio has more than doubled from Q1 2022 to Q4 2023, reaching a high of 19.16. This suggests that the company is utilizing its fixed assets more effectively to generate sales.

A higher fixed asset turnover ratio typically implies that the company is efficiently managing its fixed assets to generate higher sales. It also indicates that the company is generating more revenue for each dollar invested in fixed assets. A consistent increase in fixed asset turnover over time reflects positively on the company's operational efficiency and management of its fixed assets.

Overall, the trend of increasing fixed asset turnover for A10 Networks Inc signals effective utilization of fixed assets and efficient operations, which may lead to improved profitability and financial performance in the future.