American States Water Company (AWR)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	595,699	491,528	498,853	488,243	473,869
Property, plant and equipment	US$ in thousands	1,892,280	1,753,770	1,626,000	1,512,040	1,415,700
Fixed asset turnover		0.31	0.28	0.31	0.32	0.33

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $595,699K ÷ $1,892,280K
= 0.31

American States Water Co.'s fixed asset turnover ratio has shown a fluctuating trend over the past five years. The ratio indicates how efficiently the company generates revenue from its fixed assets. A higher ratio usually suggests better asset utilization.

In 2023, the fixed asset turnover improved to 0.31 from 0.28 in 2022, indicating that the company generated more revenue from its fixed assets compared to the previous year. However, the ratio is still lower than the ratios in 2020 and 2019, which were 0.32 and 0.33 respectively.

Overall, American States Water Co. seems to be managing its fixed assets effectively to generate revenue, although there is room for improvement to match or exceed the performance levels seen in earlier years. Further analysis of the underlying reasons for the fluctuations in the fixed asset turnover ratio could provide insights into the company's operational efficiency and asset utilization strategies.