Cirrus Logic Inc (CRUS)

Fixed asset turnover

		Mar 31, 2024	Dec 31, 2023	Sep 23, 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
Revenue (ttm)	US$ in thousands	1,788,131	1,789,079	1,760,694	1,820,205	1,896,542	2,014,981	1,972,748	1,898,050	1,781,915	1,584,295	1,521,700	1,403,112	1,368,432	1,354,186	1,243,059	1,284,646	1,280,324	1,241,474	1,191,101	1,168,494
Property, plant and equipment	US$ in thousands	170,175	167,579	171,047	167,238	162,972	156,602	158,722	157,165	157,077	157,186	159,480	158,451	154,942	154,312	153,640	154,286	158,244	174,390	178,420	182,042
Fixed asset turnover		10.51	10.68	10.29	10.88	11.64	12.87	12.43	12.08	11.34	10.08	9.54	8.86	8.83	8.78	8.09	8.33	8.09	7.12	6.68	6.42

March 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,788,131K ÷ $170,175K
= 10.51

The fixed asset turnover ratio for Cirrus Logic Inc has been relatively stable over the past few quarters, ranging between 6.42 and 12.87. This ratio measures the efficiency with which the company generates sales revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates that the company is utilizing its fixed assets more effectively to generate sales.

In the most recent quarter, ending March 31, 2024, the fixed asset turnover ratio was 10.51, suggesting that for every dollar invested in fixed assets, the company generated $10.51 in sales revenue. This is a strong indicator of efficient asset utilization.

Over the last five quarters, the fixed asset turnover ratio has shown a slight decline from the peak of 12.87 in December 31, 2022, to the current level of 10.51. Despite the decrease, the ratio remains relatively high, indicating that Cirrus Logic Inc continues to efficiently utilize its fixed assets to generate revenue.

Overall, based on the trend in the fixed asset turnover ratio, Cirrus Logic Inc has demonstrated consistent efficiency in utilizing its fixed assets to drive sales growth, although there has been a slight decline in the ratio in recent quarters.