Axon Enterprise Inc. (AXON)

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	1,569,959	1,468,095	1,366,248	1,277,256	1,187,386	1,070,477	990,712	923,894	862,707	871,660	806,113	728,577	680,248	626,197	590,674	561,872	530,795	473,735	447,652	434,421
Property, plant and equipment	US$ in thousands	200,533	186,957	179,096	172,674	169,843	164,160	157,916	149,505	138,457	128,808	119,933	112,119	105,494	102,718	45,386	43,065	43,770	42,592	40,500	41,347
Fixed asset turnover		7.83	7.85	7.63	7.40	6.99	6.52	6.27	6.18	6.23	6.77	6.72	6.50	6.45	6.10	13.01	13.05	12.13	11.12	11.05	10.51

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,569,959K ÷ $200,533K
= 7.83

The fixed asset turnover ratio of Axon Enterprise Inc has been consistently improving over the past eight quarters, indicating the company's ability to generate sales revenue relative to its fixed assets. The ratio has shown a positive trend, increasing from 6.19 in Q1 2022 to 7.80 in Q4 2023. This signifies that for every dollar invested in fixed assets, the company is generating a higher amount of sales. The upward trend in fixed asset turnover ratio suggests that Axon Enterprise Inc is becoming more efficient in utilizing its fixed assets to drive revenue generation. These improvements may be attributed to effective asset management strategies, operational efficiencies, and potentially higher sales volumes.