Booking Holdings Inc (BKNG)

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	21,365,000	20,630,000	19,341,000	18,173,000	17,090,000	16,022,000	14,646,000	12,512,000	10,958,000	9,215,000	7,179,000	5,649,000	6,796,000	8,897,000	11,297,000	14,517,000	15,066,000	14,940,000	14,749,000	14,436,000
Property, plant and equipment	US$ in thousands	784,000	733,000	732,000	699,000	669,000	879,000	858,000	844,000	822,000	762,000	748,000	734,000	756,000	744,000	736,000	720,000	738,000	706,000	716,000	695,000
Fixed asset turnover		27.25	28.14	26.42	26.00	25.55	18.23	17.07	14.82	13.33	12.09	9.60	7.70	8.99	11.96	15.35	20.16	20.41	21.16	20.60	20.77

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $21,365,000K ÷ $784,000K
= 27.25

Booking Holdings Inc's fixed asset turnover has shown a generally increasing trend over the past eight quarters, ranging from a low of 14.82 in Q1 2022 to a high of 28.14 in Q3 2023. This ratio measures how efficiently the company generates revenue from its investment in fixed assets.

A higher fixed asset turnover indicates that Booking Holdings Inc is utilizing its fixed assets more effectively to generate sales. The steady increase in the ratio suggests that the company has been improving its operational efficiency and using its fixed assets more efficiently to drive revenue.

The significant improvement from 18.23 in Q3 2022 to 28.14 in Q3 2023 is particularly noteworthy, indicating a substantial enhancement in the company's ability to generate sales from its fixed assets over this period.

Overall, the consistent upward trend in Booking Holdings Inc's fixed asset turnover reflects positively on the company's operational efficiency and management of fixed assets to drive revenue growth.