AptarGroup Inc (ATR)

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	3,487,450	3,444,884	3,388,747	3,337,384	3,322,249	3,340,328	3,328,910	3,295,399	3,227,221	3,162,557	3,096,268	2,984,541	2,929,340	2,851,344	2,793,469	2,836,825	2,859,732	2,873,427	2,837,924	2,805,871
Property, plant and equipment	US$ in thousands	1,478,060	1,388,650	1,395,810	1,377,850	1,343,660	1,225,800	1,256,990	1,276,620	1,275,880	1,248,960	1,224,460	1,183,030	1,198,750	1,139,900	1,097,920	1,071,420	1,087,660	1,042,740	1,051,540	1,007,130
Fixed asset turnover		2.36	2.48	2.43	2.42	2.47	2.73	2.65	2.58	2.53	2.53	2.53	2.52	2.44	2.50	2.54	2.65	2.63	2.76	2.70	2.79

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,487,450K ÷ $1,478,060K
= 2.36

Aptargroup Inc.'s fixed asset turnover ratio provides insight into how efficiently the company generates revenue from its investment in fixed assets. The trend of the fixed asset turnover ratio over the quarters shows fluctuations in the company's efficiency in utilizing its fixed assets to generate sales.

The fixed asset turnover ratio ranged from 2.36 to 2.73 over the past eight quarters. A higher fixed asset turnover ratio indicates that the company is generating more revenue per dollar invested in fixed assets. Aptargroup Inc.'s fixed asset turnover ratio peaked in Q3 2022 at 2.73, reflecting a strong efficiency in utilizing its fixed assets to generate sales.

However, there was a slight decline in the fixed asset turnover ratio in subsequent quarters, reaching a low of 2.36 in Q4 2023. This downward trend may suggest potential inefficiencies in utilizing fixed assets to generate revenue during that period.

Overall, Aptargroup Inc.'s fixed asset turnover ratio has shown some fluctuations, but the company has generally been efficient in utilizing its fixed assets to generate revenue. It is important for the company to monitor and address any fluctuations in this ratio to ensure optimal utilization of its fixed assets for revenue generation.