Deluxe Corporation (DLX)

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	2,192,259	2,218,899	2,236,093	2,227,360	2,238,010	2,244,581	2,221,684	2,136,947	2,022,196	1,906,113	1,813,433	1,745,622	1,790,781	1,858,360	1,912,492	1,996,073	2,008,715	2,011,321	2,010,918	2,005,176
Property, plant and equipment	US$ in thousands	93,786	121,066	126,967	125,459	124,894	122,478	127,786	124,270	125,966	129,712	96,354	87,836	88,680	80,694	77,857	94,291	96,467	92,661	91,494	89,926
Fixed asset turnover		23.38	18.33	17.61	17.75	17.92	18.33	17.39	17.20	16.05	14.69	18.82	19.87	20.19	23.03	24.56	21.17	20.82	21.71	21.98	22.30

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,192,259K ÷ $93,786K
= 23.38

The fixed asset turnover for Deluxe Corp. has been relatively stable over the past eight quarters, ranging from 17.20 to 18.81. This indicates that the company is efficiently utilizing its fixed assets to generate sales revenue. A high fixed asset turnover ratio suggests that Deluxe Corp. is generating a significant amount of sales relative to its investment in fixed assets, reflecting operational efficiency and effective asset management. Overall, the consistent and relatively high fixed asset turnover ratio indicates that Deluxe Corp. is effectively leveraging its fixed assets to drive revenue generation.