AeroVironment Inc (AVAV)
Fixed asset turnover
| Apr 30, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | Apr 30, 2020 | Jul 27, 2019 | Apr 30, 2019 | Oct 27, 2018 | Jul 28, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 715,435 | 704,843 | 652,660 | 583,428 | 539,407 | 496,023 | 461,264 | 482,030 | 485,044 | 478,879 | 471,908 | 427,008 | 451,353 | 402,249 | 397,514 | 383,043 | 325,863 | 356,333 | 323,036 | 315,858 |
| Property, plant and equipment | US$ in thousands | 46,602 | 45,053 | 43,772 | 39,770 | 39,795 | 45,388 | 52,415 | 61,862 | 62,296 | 65,377 | 68,217 | 66,563 | 58,896 | 22,868 | 22,907 | 21,694 | 17,747 | 16,905 | 20,460 | 19,347 |
| Fixed asset turnover | 15.35 | 15.64 | 14.91 | 14.67 | 13.55 | 10.93 | 8.80 | 7.79 | 7.79 | 7.32 | 6.92 | 6.42 | 7.66 | 17.59 | 17.35 | 17.66 | 18.36 | 21.08 | 15.79 | 16.33 |
April 30, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $715,435K ÷ $46,602K
= 15.35
The fixed asset turnover ratio for AeroVironment Inc has fluctuated over the past several quarters, indicating changes in the efficiency of the company's use of fixed assets to generate sales revenue.
The ratio has been consistently high, ranging from 6.42 to 21.08, which suggests that AeroVironment has been efficient in utilizing its fixed assets to generate sales. Higher values of fixed asset turnover indicate that the company is generating more sales revenue per dollar of fixed assets invested.
The trend shows an overall increasing pattern from 2018 to 2020, peaking at 21.08 in the third quarter of 2018, before gradually decreasing in the subsequent quarters. The ratio then stabilized at a relatively high level between 14 to 15 in 2022 and 2023.
The recent decrease in the fixed asset turnover ratio from the first quarter of 2024 to the previous quarter indicates a potential decrease in the efficiency of AeroVironment's utilization of fixed assets to generate sales. It would be important to further investigate the factors contributing to this decline and assess whether it is a temporary fluctuation or a concerning long-term trend.
Peer comparison
Apr 30, 2024