ELF Beauty Inc (ELF)

Fixed asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	1,016,910	576,650	389,406	314,020	276,544
Property, plant and equipment	US$ in thousands	13,974	7,874	10,577	13,770	17,171
Fixed asset turnover		72.77	73.23	36.82	22.80	16.11

March 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,016,910K ÷ $13,974K
= 72.77

ELF Beauty Inc's fixed asset turnover has exhibited a positive trend over the past five years, increasing from 16.11 in March 2020 to 72.77 in March 2024. This indicates that the company is generating more revenue relative to its investment in fixed assets. A higher fixed asset turnover ratio signifies that ELF Beauty Inc is utilizing its fixed assets more efficiently to generate sales. This improvement suggests potential operational efficiency and effectiveness in utilizing its fixed assets. However, it is important to consider other factors affecting the company's financial performance and operational efficiency before drawing definitive conclusions about its overall financial health.