Avnet Inc (AVT)
Fixed asset turnover
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 23,757,130 | 24,748,760 | 25,609,790 | 26,122,400 | 26,536,880 | 26,354,920 | 26,328,440 | 25,476,140 | 24,310,710 | 23,164,790 | 21,593,360 | 20,396,310 | 19,534,670 | 18,467,640 | 17,860,750 | 17,727,390 | 17,634,340 | 18,155,550 | 18,544,550 | 19,058,720 |
| Property, plant and equipment | US$ in thousands | 568,169 | 561,560 | 563,758 | 470,971 | 441,557 | 400,320 | 378,269 | 300,068 | 315,200 | 323,420 | 338,199 | 351,873 | 368,500 | 381,083 | 403,270 | 404,136 | 404,600 | 413,371 | 431,410 | 437,467 |
| Fixed asset turnover | 41.81 | 44.07 | 45.43 | 55.46 | 60.10 | 65.83 | 69.60 | 84.90 | 77.13 | 71.62 | 63.85 | 57.96 | 53.01 | 48.46 | 44.29 | 43.86 | 43.58 | 43.92 | 42.99 | 43.57 |
June 30, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $23,757,130K ÷ $568,169K
= 41.81
The fixed asset turnover ratio for Avnet Inc has shown a generally increasing trend over the past several quarters, indicating an improvement in the company's ability to generate sales from its fixed assets. The ratio has ranged from a low of 41.81 in June 2024 to a high of 84.90 in September 2022, with occasional fluctuations in between.
The upward trend in the fixed asset turnover ratio suggests that Avnet Inc has been utilizing its fixed assets more efficiently to generate revenue. A higher fixed asset turnover ratio signifies that the company is generating more sales for each dollar invested in fixed assets, which is a positive indicator of operational efficiency.
While the ratio has experienced fluctuations, it has generally remained at relatively high levels, indicating that Avnet Inc has been effectively managing and utilizing its fixed assets to drive revenue growth. This trend is a positive signal for investors and stakeholders as it demonstrates the company's ability to maximize the productivity of its assets.
Peer comparison
Jun 30, 2024