Bill Com Holdings Inc (BILL)

Fixed asset turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	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
Revenue (ttm)	US$ in thousands	1,462,570	1,422,886	1,387,697	1,343,638	1,290,173	1,242,491	1,192,018	1,133,529	1,058,468	962,706	857,062	753,534	640,013	518,065	410,892	308,459	238,265	202,102	183,594	168,629
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	—	151,894	81,564	77,465	69,383	137,131	133,430	53,279	129,498	130,072	120,827	31,740	30,572	65,109
Fixed asset turnover		—	—	—	—	—	—	—	7.46	12.98	12.43	12.35	5.49	4.80	9.72	3.17	2.37	1.97	6.37	6.01	2.59

June 30, 2025 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,462,570K ÷ $—K
= —

The fixed asset turnover ratio of Bill Com Holdings Inc exhibits notable fluctuations over the observed periods, reflecting variations in the company's ability to generate revenue from its fixed assets.

At the beginning of the observed timeframe, on September 30, 2020, the ratio stood at 2.59, indicating a certain level of operational efficiency in utilizing fixed assets. This ratio increased substantially over the subsequent quarters, reaching 6.01 by December 31, 2020, and further climbing to 6.37 by March 31, 2021. During this period, the company demonstrated improving asset utilization, generating more sales per dollar of fixed assets.

A brief decline is observed on June 30, 2021, when the ratio dropped to 1.97. Despite this setback, the ratio rebounded to 2.37 by September 30, 2021, and then rose further to 3.17 at the end of 2021. The upward trend intensified significantly in 2022, with the ratio reaching 9.72 in March 2022, indicating a marked enhancement in operational efficiency.

Throughout 2022, the ratio remained relatively high, concluding the year at 12.35 in December 2022 and slightly increasing to 12.43 by March 2023 and continuing upward to 12.98 by June 30, 2023. These figures suggest a consistent improvement in the company's capacity to generate revenue relative to its fixed assets, reflecting effective asset management and possibly capitalizing on operational efficiencies or strategic investments.

However, in the third quarter of 2023, the ratio declines to 7.46, indicating a reduction in asset utilization efficiency. The absence of data beyond this point limits further analysis, but the recent decrease suggests a potential decline in operational effectiveness or a change in asset base or sales levels.

Overall, the trend indicates periods of rapid growth in asset turnover, especially noticeable in 2022, followed by a recent decline. The fluctuations may be attributable to changes in sales volume, asset base adjustments, or strategic business shifts, necessitating further analysis for precise causality. Nonetheless, the long-term trajectory points toward significant improvement in fixed asset utilization over the observed period.