Cohu Inc (COHU)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 627,391 | 809,990 | 948,697 | 623,954 | 562,949 |
| Property, plant and equipment | US$ in thousands | 69,085 | 65,011 | 63,957 | 66,916 | 70,912 |
| Fixed asset turnover | 9.08 | 12.46 | 14.83 | 9.32 | 7.94 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $627,391K ÷ $69,085K
= 9.08
The fixed asset turnover ratio for Cohu Inc has shown fluctuations over the past five years. In 2023, the ratio decreased to 9.08 from 12.46 in 2022, indicating a decline in the company's efficiency in generating sales from its fixed assets. However, it is important to note that even with this decrease, the ratio remains relatively high compared to earlier years.
The peak in fixed asset turnover was in 2021 at 14.83, demonstrating the company's strong ability to utilize its fixed assets to generate revenues efficiently. This was followed by a decrease in 2022, but the ratio remained robust at 12.46.
In comparison to 2020 and 2019, where the ratios were 9.32 and 7.94 respectively, Cohu Inc has shown improvements in utilizing its fixed assets effectively to generate sales.
Overall, while there has been some fluctuation in the fixed asset turnover ratio for Cohu Inc over the past five years, the company has generally demonstrated efficiency in utilizing its fixed assets to generate revenues, with the ratio remaining relatively high and showing an upward trend in recent years.
Peer comparison
Dec 31, 2023