Charles River Laboratories (CRL)

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	4,097,200	4,325,190	4,303,632	4,238,180	4,106,274	3,792,022	3,683,743	3,605,712	3,459,843	3,333,185	3,172,755	2,930,880	2,859,828	2,759,976	2,697,739	2,671,095	2,595,709	2,506,101	2,411,563	2,341,443
Property, plant and equipment	US$ in thousands	1,639,740	1,525,480	1,529,640	1,494,080	1,465,660	1,380,570	1,383,420	1,321,620	1,291,070	1,145,520	1,157,440	1,085,570	1,124,360	1,006,960	997,780	1,033,410	1,044,130	1,008,050	1,006,330	907,367
Fixed asset turnover		2.50	2.84	2.81	2.84	2.80	2.75	2.66	2.73	2.68	2.91	2.74	2.70	2.54	2.74	2.70	2.58	2.49	2.49	2.40	2.58

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,097,200K ÷ $1,639,740K
= 2.50

Charles River Laboratories has consistently maintained a relatively stable fixed asset turnover ratio over the past few years. The fixed asset turnover ratio measures how effectively the company is utilizing its fixed assets to generate revenue. A higher ratio indicates that the company is generating more revenue per dollar of fixed assets, which is generally favorable.

The company's fixed asset turnover ratio has ranged between 2.40 and 2.91 over the period being analyzed. This range suggests that Charles River Laboratories has been efficient in generating revenue from its fixed assets during these periods. Specifically, the ratios have mostly been above 2.50, indicating that the company has been able to generate approximately $2.50 to $2.91 in revenue for every dollar invested in fixed assets.

Overall, the stability and relatively high average fixed asset turnover ratio suggest that Charles River Laboratories has been effectively utilizing its fixed assets to generate revenue and has maintained a consistent level of operational efficiency in this aspect of its business.