Azenta Inc (AZTA)
Fixed asset turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 651,150 | 662,379 | 657,005 | 645,780 | 669,996 | 633,011 | 598,573 | 594,894 | 554,493 | 549,230 | 729,759 | 867,038 | 977,448 | 948,755 | 854,265 | 795,637 | 753,076 | 1,246,466 | 1,227,754 | 1,182,711 |
| Property, plant and equipment | US$ in thousands | 200,791 | 196,124 | 200,905 | 210,628 | 203,806 | 208,930 | 213,795 | 215,960 | 154,270 | 154,596 | 150,408 | 147,189 | 130,572 | 146,259 | 131,975 | 126,252 | 87,441 | 109,810 | 108,744 | 105,296 |
| Fixed asset turnover | 3.24 | 3.38 | 3.27 | 3.07 | 3.29 | 3.03 | 2.80 | 2.75 | 3.59 | 3.55 | 4.85 | 5.89 | 7.49 | 6.49 | 6.47 | 6.30 | 8.61 | 11.35 | 11.29 | 11.23 |
September 30, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $651,150K ÷ $200,791K
= 3.24
Fixed asset turnover is a financial ratio that measures how efficiently a company generates sales revenue from its investments in fixed assets, such as property, plant, and equipment. Azenta Inc's fixed asset turnover has fluctuated over the periods provided, ranging from 2.75 to 11.35.
A high fixed asset turnover ratio indicates that the company is effectively utilizing its fixed assets to generate sales. In this case, Azenta Inc's fixed asset turnover has shown significant improvements over the years, reaching a peak of 11.35 in the first quarter of 2022. This indicates that the company was generating $11.35 in sales for every dollar invested in fixed assets during that period.
However, the ratio has since decreased, indicating a potential decline in efficiency in utilizing its fixed assets to generate sales. The fluctuations in the ratio suggest changes in the company's operational efficiency, asset utilization, or even changes in its sales volume.
It is important for Azenta Inc to closely monitor and analyze its fixed asset turnover ratio to ensure optimal utilization of its fixed assets and maximize its sales generation efficiency.
Peer comparison
Sep 30, 2024