Doximity Inc (DOCS)

Fixed asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Revenue	US$ in thousands	475,422	419,052	343,548
Property, plant and equipment	US$ in thousands	12,318	11,279	8,488
Fixed asset turnover		38.60	37.15	40.47

March 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $475,422K ÷ $12,318K
= 38.60

The fixed asset turnover ratio measures how efficiently a company is generating revenue from its fixed assets. In the case of Doximity Inc, the fixed asset turnover ratio has shown a consistent trend over the past three years:

- As of March 31, 2024, the fixed asset turnover ratio is 38.60, indicating that for every dollar of fixed assets owned by the company, it generated $38.60 in revenue. This suggests that Doximity Inc is effectively utilizing its fixed assets to generate sales.

- In the previous year, as of March 31, 2023, the fixed asset turnover ratio was slightly lower at 37.15. Despite the decrease, the company still demonstrated robust efficiency in utilizing its fixed assets to generate revenue.

- Going back to March 31, 2022, the fixed asset turnover ratio was at its highest at 40.47, indicating a peak in efficiency in utilizing fixed assets to drive revenue generation.

Overall, Doximity Inc has consistently shown strong efficiency in generating revenue from its fixed assets over the past three years, with slight fluctuations year over year. This suggests that the company has been effectively managing and utilizing its fixed assets to drive sales growth and maximize operational efficiency.