Biogen Inc (BIIB)

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	9,835,600	9,993,300	9,971,500	10,104,600	10,173,400	10,363,200	10,633,600	10,819,500	10,981,700	11,100,500	11,697,700	12,604,300	13,444,600	14,263,300	14,487,300	14,422,400	14,377,900	14,232,900	14,071,800	13,811,600
Property, plant and equipment	US$ in thousands	3,309,700	3,301,600	3,307,200	3,300,900	3,298,600	3,266,400	3,355,100	3,372,800	3,416,400	3,410,700	3,442,200	3,438,300	3,411,500	3,359,900	3,330,700	3,281,600	3,247,300	3,138,100	3,077,500	3,013,800
Fixed asset turnover		2.97	3.03	3.02	3.06	3.08	3.17	3.17	3.21	3.21	3.25	3.40	3.67	3.94	4.25	4.35	4.39	4.43	4.54	4.57	4.58

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $9,835,600K ÷ $3,309,700K
= 2.97

Biogen Inc's fixed asset turnover has exhibited some fluctuations over the past eight quarters. The ratio has ranged from 2.97 to 3.21, with Q1 and Q2 of 2022 recording the highest values. A fixed asset turnover above 1 indicates that the company is generating more revenue per dollar of fixed assets, reflecting efficient asset utilization. The relatively stable values around 3 suggest that Biogen has been consistently effective in deriving revenue from its fixed assets. However, the slight downward trend in recent quarters may indicate a potential decrease in the efficiency of fixed asset utilization, which warrants further investigation to understand the underlying reasons.