3D Systems Corporation (DDD)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 512,487 | 530,813 | 965,674 | 548,190 | 622,454 |
| Property, plant and equipment | US$ in thousands | 64,461 | 58,072 | 57,257 | 75,356 | 92,940 |
| Fixed asset turnover | 7.95 | 9.14 | 16.87 | 7.27 | 6.70 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $512,487K ÷ $64,461K
= 7.95
The fixed asset turnover ratio for 3D Systems Corporation has exhibited fluctuations over the past five years. The ratio indicates the company's ability to generate revenue from its investment in fixed assets.
In 2023, the fixed asset turnover ratio decreased to 7.95 from 9.14 in 2022, suggesting a decline in the company's efficiency in utilizing its fixed assets to generate sales revenue. Despite this decrease, the ratio remains relatively high compared to previous years, indicating that the company is still effective in converting its investment in fixed assets into sales.
The significant spike in the fixed asset turnover ratio in 2021, where it reached 16.87, reflects an exceptional performance in generating revenue from fixed assets during that period. This could be due to increased productivity, strategic asset utilization, or improvements in operational efficiency.
The ratios in 2020 and 2019 stood at 7.27 and 6.70, respectively, indicating relatively stable performance in converting fixed assets into revenue during those years.
Overall, while the fixed asset turnover ratio has experienced fluctuations, 3D Systems Corporation has generally demonstrated a good ability to efficiently utilize its fixed assets to generate sales revenue, with occasional exceptional performances in certain years.
Peer comparison
Dec 31, 2023