Biomarin Pharmaceutical Inc (BMRN)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,374,190	2,068,670	1,832,750	1,823,140	1,680,280
Property, plant and equipment	US$ in thousands	1,066,130	1,073,370	1,035,460	1,032,470	1,010,870
Fixed asset turnover		2.23	1.93	1.77	1.77	1.66

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,374,190K ÷ $1,066,130K
= 2.23

The fixed asset turnover ratio of Biomarin Pharmaceutical Inc has shown a generally increasing trend over the past five years, with values of 1.66 in 2019, 1.77 in 2020, 1.77 in 2021, 1.93 in 2022, and 2.23 in 2023. This indicates that the company is generating more revenue per dollar of fixed assets invested, reflecting improved efficiency in utilizing its fixed assets to generate sales. The significant increase in the fixed asset turnover ratio from 2022 to 2023 suggests that Biomarin Pharmaceutical Inc has been able to further optimize its fixed asset utilization in the most recent year. Overall, a higher fixed asset turnover ratio is a positive indicator of operational efficiency and effective asset management within the company.