Bristol-Myers Squibb Company (BMY)

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	45,006,000	44,935,000	45,187,000	45,848,000	46,159,000	46,738,000	47,144,000	46,960,000	46,385,000	45,468,000	44,384,000	42,810,000	42,518,000	39,395,000	34,862,000	31,006,000	26,145,000	24,173,000	23,857,000	23,288,000
Property, plant and equipment	US$ in thousands	6,646,000	6,481,000	6,355,000	6,279,000	6,255,000	6,035,000	5,970,000	6,047,000	6,049,000	5,868,000	5,795,000	5,763,000	5,886,000	5,740,000	5,777,000	6,112,000	6,252,000	4,830,000	4,849,000	4,985,000
Fixed asset turnover		6.77	6.93	7.11	7.30	7.38	7.74	7.90	7.77	7.67	7.75	7.66	7.43	7.22	6.86	6.03	5.07	4.18	5.00	4.92	4.67

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $45,006,000K ÷ $6,646,000K
= 6.77

Bristol-Myers Squibb Co.'s fixed asset turnover has been relatively stable over the past eight quarters, ranging from 6.77 to 7.38. It measures the company's ability to generate revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates that the company is more efficient in utilizing its fixed assets to generate sales.

The trend shows a slight decline from Q1 2022 to Q1 2023, dropping from 7.77 to 7.30. This could suggest a decrease in the company's efficiency in generating sales from its fixed assets during this period. However, the ratio remains relatively high, indicating that Bristol-Myers Squibb Co. is still efficient in utilizing its fixed assets to generate revenue.

Overall, the company's fixed asset turnover ratio has been consistently high, reflecting its effective management of fixed assets to drive sales. It will be important to monitor future trends to assess whether the slight decline observed in recent quarters persists or if it rebounds in subsequent periods.