Axon Enterprise Inc. (AXON)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,576,710 | 1,185,750 | 858,072 | 679,336 | 528,619 |
| Property, plant and equipment | US$ in thousands | 200,533 | 169,843 | 138,457 | 105,494 | 43,770 |
| Fixed asset turnover | 7.86 | 6.98 | 6.20 | 6.44 | 12.08 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,576,710K ÷ $200,533K
= 7.86
The fixed asset turnover ratio for Axon Enterprise Inc has shown a fluctuating trend over the past five years. The ratio was 7.80 in 2023, indicating that the company generated $7.80 in revenue for every dollar invested in fixed assets during the year. This represents an improvement compared to the previous year, where the ratio was 7.01.
However, when looking at the trend over a longer period, we observe some variability. In 2021, the fixed asset turnover was 6.24, and in 2020, it was 6.46. These values suggest that the company's efficiency in generating revenue from its fixed assets was lower compared to the more recent years.
Notably, in 2019, Axon Enterprise Inc had a significantly higher fixed asset turnover of 12.13, indicating that the company was more efficient in utilizing its fixed assets to generate revenue during that year.
Overall, the fluctuating trend in fixed asset turnover ratios indicates that Axon Enterprise Inc's efficiency in generating revenue from its fixed assets has varied over the years, with room for improvement in certain periods. It is essential for the company to analyze the factors contributing to these fluctuations and continuously strive to optimize the utilization of its fixed assets to enhance overall profitability.
Peer comparison
Dec 31, 2023