CTS Corporation (CTS)

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	550,422	568,009	585,368	585,168	586,869	577,119	547,590	532,193	512,925	503,412	494,807	449,419	424,067	416,089	417,963	454,450	469,000	474,033	477,241	474,578
Property, plant and equipment	US$ in thousands	92,592	92,880	94,956	96,280	97,300	95,906	99,637	97,041	96,876	92,533	93,017	94,848	97,437	97,777	99,349	101,755	105,038	102,636	99,878	99,052
Fixed asset turnover		5.94	6.12	6.16	6.08	6.03	6.02	5.50	5.48	5.29	5.44	5.32	4.74	4.35	4.26	4.21	4.47	4.47	4.62	4.78	4.79

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $550,422K ÷ $92,592K
= 5.94

The fixed asset turnover of CTS Corp. has been relatively stable over the past eight quarters, ranging from 5.48 to 6.16. This ratio measures how efficiently the company is generating sales from its investments in fixed assets, such as property, plant, and equipment.

A higher fixed asset turnover ratio indicates that the company is generating more revenue per dollar invested in fixed assets. CTS Corp.'s fixed asset turnover has generally been strong, consistently above 5, with some quarters exceeding 6. This suggests that the company is effectively utilizing its fixed assets to generate sales.

Overall, CTS Corp.'s fixed asset turnover shows a positive trend, indicating efficient management of its fixed assets to drive revenue generation.