Cohu Inc (COHU)
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 | 629,363 | 683,338 | 741,439 | 791,525 | 809,990 | 809,089 | 824,680 | 925,739 | 948,812 | 964,541 | 892,945 | 714,217 | 627,430 | 567,086 | 556,311 | 560,509 | 568,943 | 597,569 | 543,374 | 501,974 |
| Property, plant and equipment | US$ in thousands | 69,085 | 66,605 | 66,626 | 67,208 | 65,011 | 61,789 | 62,147 | 63,912 | 63,957 | 65,158 | 65,021 | 65,776 | 66,916 | 64,546 | 65,805 | 64,688 | 70,912 | 70,439 | 71,776 | 71,792 |
| Fixed asset turnover | 9.11 | 10.26 | 11.13 | 11.78 | 12.46 | 13.09 | 13.27 | 14.48 | 14.84 | 14.80 | 13.73 | 10.86 | 9.38 | 8.79 | 8.45 | 8.66 | 8.02 | 8.48 | 7.57 | 6.99 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $629,363K ÷ $69,085K
= 9.11
The fixed asset turnover for Cohu Inc has fluctuated over the periods provided, ranging from 6.99 to 14.84. Fixed asset turnover measures how well a company generates revenue from its investments in fixed assets. A higher fixed asset turnover ratio indicates that the company is using its fixed assets more efficiently to generate sales revenue.
From the trend observed, Cohu Inc's fixed asset turnover has generally been increasing over the past periods, indicating improved efficiency in generating revenue from its fixed assets. The peak turnover ratio of 14.84 in Mar 31, 2022, suggests that the company effectively utilized its fixed assets to generate sales during that period.
However, the ratio has experienced some fluctuations, with occasional decreases in certain quarters. It's essential to further investigate the reasons behind these fluctuations to determine if there are any underlying issues affecting the company's asset utilization efficiency.
Overall, the increasing trend in fixed asset turnover is a positive indication for Cohu Inc, highlighting its ability to optimize the use of fixed assets to generate revenue and potentially improve profitability.
Peer comparison
Dec 31, 2023