Cognex Corporation (CGNX)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	915,950	880,891	832,846	834,652	825,325	872,390	892,135	923,813	1,004,258	1,006,206	1,082,805	1,078,739	1,034,795	1,014,415	983,583	884,497	810,787	756,941	685,541	715,295
Property, plant and equipment	US$ in thousands	98,445	103,177	102,997	104,111	105,849	82,965	81,638	81,274	79,714	79,425	79,468	77,870	77,546	76,882	76,972	77,081	79,173	81,225	83,936	86,702
Fixed asset turnover		9.30	8.54	8.09	8.02	7.80	10.52	10.93	11.37	12.60	12.67	13.63	13.85	13.34	13.19	12.78	11.47	10.24	9.32	8.17	8.25

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $915,950K ÷ $98,445K
= 9.30

Fixed Asset Turnover is a financial ratio that measures a company's ability to generate revenue from its fixed assets. In the case of Cognex Corporation, the Fixed Asset Turnover has shown a general increasing trend over the past few years, starting at 8.25 in March 2020 and reaching a peak of 13.85 in March 2022. This indicates that the company has been more efficient in utilizing its fixed assets to generate sales over time.

However, there was a slight decline in the Fixed Asset Turnover ratio in the subsequent quarters, dropping to 7.80 by December 2023, before gradually increasing again to 9.30 by December 2024. Despite the fluctuations, the ratio remained relatively high compared to the starting point in 2020.

Overall, the trend in Cognex Corporation's Fixed Asset Turnover suggests that the company has been effectively utilizing its fixed assets to generate revenue, with some fluctuations in efficiency observed over the years. Further analysis and comparison with industry benchmarks could provide additional insights into the company's asset utilization efficiency.