Axalta Coating Systems Ltd (AXTA)
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 | 5,184,100 | 5,123,500 | 5,053,200 | 4,994,200 | 4,884,400 | 4,784,900 | 4,634,800 | 4,526,700 | 4,416,200 | 4,353,500 | 4,291,800 | 3,817,700 | 3,737,600 | 3,761,500 | 3,841,600 | 4,346,400 | 4,482,200 | 4,549,600 | 4,588,600 | 4,643,300 |
| Property, plant and equipment | US$ in thousands | 1,204,300 | 1,169,300 | 1,196,800 | 1,204,000 | 1,190,200 | 1,121,500 | 1,152,900 | 1,184,400 | 1,186,200 | 1,193,500 | 1,183,300 | 1,163,600 | 1,194,500 | 1,165,200 | 1,158,200 | 1,163,100 | 1,223,000 | 1,216,700 | 1,259,100 | 1,274,400 |
| Fixed asset turnover | 4.30 | 4.38 | 4.22 | 4.15 | 4.10 | 4.27 | 4.02 | 3.82 | 3.72 | 3.65 | 3.63 | 3.28 | 3.13 | 3.23 | 3.32 | 3.74 | 3.66 | 3.74 | 3.64 | 3.64 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,184,100K ÷ $1,204,300K
= 4.30
The fixed asset turnover ratio for Axalta Coating Systems Ltd has been relatively stable over the past eight quarters, ranging from 3.82 to 4.38. This ratio measures how efficiently the company is generating sales revenue from its fixed assets. A higher fixed asset turnover ratio indicates that the company is using its fixed assets more efficiently to generate sales.
In the recent quarters, the fixed asset turnover ratio has been consistently above 4, which suggests that Axalta Coating Systems Ltd is effectively utilizing its fixed assets to generate sales. This is a positive sign as it indicates that the company is efficient in managing its fixed assets to drive revenue.
Overall, the trend of the fixed asset turnover ratio for Axalta Coating Systems Ltd indicates a strong performance in utilizing its fixed assets efficiently to generate sales revenue. It shows that the company is making good use of its investments in fixed assets to drive its business operations.
Peer comparison
Dec 31, 2023