Azenta Inc (AZTA)
Fixed asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 650,019 | 667,215 | 2,683,250 | 501,137 | 887,939 |
| Property, plant and equipment | US$ in thousands | 200,791 | 203,806 | 154,270 | 130,572 | 87,441 |
| Fixed asset turnover | 3.24 | 3.27 | 17.39 | 3.84 | 10.15 |
September 30, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $650,019K ÷ $200,791K
= 3.24
The fixed asset turnover of Azenta Inc has shown fluctuation over the past five years. The ratio indicates how efficiently the company is utilizing its fixed assets to generate revenue.
In 2024, the fixed asset turnover ratio decreased slightly to 3.24 from 3.27 in 2023. This suggests that the company generated $3.24 in revenue for every dollar invested in fixed assets during the year. Although there was a slight decline, the ratio remains relatively stable.
The significant increase in the fixed asset turnover ratio in 2022, jumping to 17.39 from 3.84 in 2021, indicates a substantial improvement in asset utilization efficiency. This could be due to better management of fixed assets or increased revenue generation without significant additions to the fixed asset base.
The ratio then decreased in 2021 to 3.84 from 10.15 in 2020. This decline may suggest a decrease in revenue generation relative to the fixed asset base. It could also indicate underutilization of fixed assets or potential inefficiencies within the company.
Overall, the fixed asset turnover ratio of Azenta Inc has varied over the years, with fluctuations reflecting changes in how effectively the company is using its fixed assets to generate revenue. Further analysis of the company's operational efficiency and asset management practices would provide more insights into the reasons behind these fluctuations.
Peer comparison
Sep 30, 2024