Cadence Design Systems Inc (CDNS)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	4,641,260	4,089,990	3,561,720	2,988,240	2,682,890
Property, plant and equipment	US$ in thousands	—	—	371,451	305,911	311,125
Fixed asset turnover		—	—	9.59	9.77	8.62

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $4,641,260K ÷ $—K
= —

The fixed asset turnover ratio measures how efficiently Cadence Design Systems Inc is utilizing its fixed assets to generate revenue. The trend over the years shows an improvement in the ratio from 8.62 in December 31, 2020, to 9.77 in December 31, 2021, and then a slight decrease to 9.59 in December 31, 2022. However, the ratio is not available for the years 2023 and 2024.

Overall, the company has been effectively using its fixed assets to generate sales, with a notable increase in efficiency from 2020 to 2021. The slight decrease in 2022 may indicate some changes in the company's asset utilization strategies. It would be important to monitor future financial reports to understand the reasons behind the missing data for 2023 and 2024 and to assess the continued efficiency of asset utilization by Cadence Design Systems Inc.