Adtalem Global Education Inc (ATGE)

Fixed asset turnover

		Jun 30, 2025	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
Revenue (ttm)	US$ in thousands	1,788,290	1,741,091	1,687,694	1,633,207	1,584,652	1,539,386	1,495,810	1,465,870	1,451,584	1,448,174	1,444,715	1,452,611	1,446,379	1,365,522	1,280,553	1,192,466	1,112,380	1,091,735	1,082,568	1,065,629
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	—	435,821	258,522	252,797	275,617	281,581	289,926	294,538	457,022	322,305	466,180	291,022	290,236	289,944
Fixed asset turnover		—	—	—	—	—	—	—	3.36	5.61	5.73	5.24	5.16	4.99	4.64	2.80	3.70	2.39	3.75	3.73	3.68

June 30, 2025 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,788,290K ÷ $—K
= —

The fixed asset turnover ratio for Adtalem Global Education Inc. exhibits notable fluctuations over the analyzed periods. Initially, the ratio remained relatively stable from September 30, 2020, through March 31, 2021, oscillating around approximately 3.68 to 3.75, indicating a consistent level of efficiency in utilizing fixed assets to generate revenue during that period.

A significant decline was observed by June 30, 2021, when the ratio dropped sharply to 2.39, suggesting a decrease in revenue generated per dollar of fixed assets. This downturn persisted into September 30, 2021, where the ratio recovered close to previous levels at 3.70, but then declined again to 2.80 by the end of 2021. The pattern indicates periods of diminished asset efficiency followed by partial recoveries.

Starting from March 31, 2022, there was a marked improvement in the ratio, which increased substantially to 4.64 and further to 4.99 by June 30, 2022. This upward trend continued into September 2022, with the ratio reaching 5.16, and maintained elevated levels through December 2022 at 5.24, eventually climbing to 5.73 by March 2023, and slightly declining thereafter to 5.61 at June 30, 2023. These figures reflect enhanced asset productivity during this interval.

However, the ratio experienced a sharp decline by September 30, 2023, falling to 3.36, reverting closer to earlier years' levels and indicating a reduction in asset utilization efficiency. The data entries beyond this date are not available, precluding further analysis.

Overall, the fixed asset turnover ratio demonstrates periods of both decline and growth, with a discernible peak around early 2023, followed by a notable decrease in the most recent quarter analyzed. The variability suggests fluctuating operational efficiency in leveraging fixed assets to generate revenue, potentially influenced by changes in revenue levels, asset base, or strategic adjustments during this timeframe.