Benchmark Electronics Inc (BHE)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,838,980	2,886,330	2,255,320	2,053,130	2,268,100
Property, plant and equipment	US$ in thousands	227,698	211,478	186,666	185,272	205,819
Fixed asset turnover		12.47	13.65	12.08	11.08	11.02

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,838,980K ÷ $227,698K
= 12.47

Benchmark Electronics Inc.'s fixed asset turnover has been fluctuating over the past five years, ranging from 11.02 in 2019 to 13.65 in 2022. The ratio indicates the company's ability to generate revenue from its investment in fixed assets. A higher fixed asset turnover ratio suggests that the company is efficiently utilizing its fixed assets to generate sales. The decreasing trend from 2022 to 2023 may indicate a decrease in the efficiency of utilizing fixed assets to generate revenue. Further analysis of the company's operational efficiency and management of fixed assets is recommended to understand the factors influencing these fluctuations in fixed asset turnover.