Benchmark Electronics Inc (BHE)

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	2,838,976	2,898,266	2,950,146	2,944,943	2,886,331	2,768,741	2,569,048	2,385,681	2,255,319	2,143,515	2,097,584	2,043,888	2,053,131	2,040,325	2,069,603	2,180,239	2,268,095	2,416,701	2,502,160	2,561,149
Property, plant and equipment	US$ in thousands	227,698	231,661	222,245	221,016	211,478	204,154	198,497	190,526	186,666	188,858	188,318	183,294	185,272	190,610	198,001	201,580	205,819	199,256	202,665	203,796
Fixed asset turnover		12.47	12.51	13.27	13.32	13.65	13.56	12.94	12.52	12.08	11.35	11.14	11.15	11.08	10.70	10.45	10.82	11.02	12.13	12.35	12.57

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,838,976K ÷ $227,698K
= 12.47

Based on the fixed asset turnover data provided for Benchmark Electronics Inc. from Q1 2022 to Q4 2023, we observe fluctuations in the company's efficiency in generating sales revenue from its fixed assets.

The fixed asset turnover ratio indicates how well a company utilizes its fixed assets to generate sales. A higher ratio suggests that the company is effectively using its fixed assets to generate revenue.

Benchmark Electronics Inc. experienced a decreasing trend in fixed asset turnover from Q4 2022 (13.65) to Q2 2023 (13.27), indicating a slight decline in the efficiency of utilizing fixed assets during that period. However, there was a subsequent increase from Q2 2023 (13.27) to Q4 2023 (12.47), showing improvement in the efficiency of generating sales from fixed assets in the latest quarter.

Overall, the fluctuations in fixed asset turnover ratios suggest that Benchmark Electronics Inc. has been relatively efficient in utilizing its fixed assets to generate sales revenue over the analyzed quarters, although there have been some minor variations in efficiency levels. It is advisable for the company to monitor and strive for consistent improvement in this ratio to maximize profitability and asset utilization efficiency.