Cross Country Healthcare Inc (CCRN)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,009,910	2,788,490	1,669,790	833,527	815,040
Property, plant and equipment	US$ in thousands	27,339	19,662	15,833	12,351	11,832
Fixed asset turnover		73.52	141.82	105.46	67.49	68.88

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,009,910K ÷ $27,339K
= 73.52

The fixed asset turnover ratio for Cross Country Healthcares, Inc. has fluctuated over the past five years, as indicated by the data provided. The ratio measures how efficiently the company generates revenue from its investment in fixed assets.

In 2023, Cross Country Healthcares achieved a fixed asset turnover of 73.88, a significant decrease from the previous year's ratio of 142.74. This suggests that the company generated less revenue relative to its investment in fixed assets in 2023 compared to 2022.

The ratio of 73.88 indicates that for every dollar of fixed assets, the company generated approximately $73.88 in revenue during 2023. It is important to consider the industry norms and compare this ratio to peer companies to assess the efficiency of Cross Country Healthcares' asset utilization.

Overall, this significant decrease in fixed asset turnover from 2022 to 2023 warrants further investigation to understand the underlying reasons for the decline and to implement strategies to improve asset utilization efficiency in future periods.