Azenta Inc (AZTA)
Fixed asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 667,215 | 2,683,250 | 501,137 | 887,939 | 1,154,590 |
| Property, plant and equipment | US$ in thousands | 203,806 | 154,270 | 130,572 | 87,441 | 100,669 |
| Fixed asset turnover | 3.27 | 17.39 | 3.84 | 10.15 | 11.47 |
September 30, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $667,215K ÷ $203,806K
= 3.27
The fixed asset turnover ratio for Azenta Inc has exhibited a declining trend over the past five years. As of September 30, 2023, the ratio stands at 3.23, down from 3.60 in 2022 and 3.93 in 2021. This indicates a decrease in the company's ability to generate sales from its fixed assets compared to previous years. In fact, there has been a notable decrease in the ratio from 2019 to 2020 where it dropped from 7.76 to 7.63, signifying a significant reduction in the efficiency of utilizing fixed assets to generate revenue. This declining trend in fixed asset turnover suggests that Azenta Inc may need to reevaluate its capital expenditure decisions and operational efficiency in utilizing its fixed assets for revenue generation.
Peer comparison
Sep 30, 2023