CoreCivic Inc (CXW)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,896,640 | 1,845,330 | 1,862,620 | 1,905,480 | 1,980,690 |
| Property, plant and equipment | US$ in thousands | 2,114,520 | 2,176,100 | 2,283,260 | 2,350,270 | 2,700,110 |
| Fixed asset turnover | 0.90 | 0.85 | 0.82 | 0.81 | 0.73 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,896,640K ÷ $2,114,520K
= 0.90
CoreCivic Inc's fixed asset turnover has been showing a gradual improvement over the past five years. The ratio increased from 0.73 in 2019 to 0.90 in 2023. This indicates that the company is generating more revenue from its fixed assets as time progresses. A higher fixed asset turnover ratio typically signifies better asset utilization efficiency and operational performance. It implies that CoreCivic Inc is able to generate more sales for every dollar invested in fixed assets. Overall, the increasing trend in fixed asset turnover suggests that the company is effectively managing and utilizing its fixed assets to drive revenue growth.
Peer comparison
Dec 31, 2023