ELF Beauty Inc (ELF)

Fixed asset turnover

		Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,024,893	891,107	766,065	671,498	576,756	494,534	446,184	415,879	389,935	377,471	367,630	347,817	314,882	296,923	288,416	282,943	277,931	267,511	266,882	326,787
Property, plant and equipment	US$ in thousands	13,974	12,805	7,624	7,581	7,874	8,726	8,934	9,339	10,577	12,231	13,945	15,561	13,770	16,790	16,270	16,146	17,171	16,487	16,059	16,493
Fixed asset turnover		73.34	69.59	100.48	88.58	73.25	56.67	49.94	44.53	36.87	30.86	26.36	22.35	22.87	17.68	17.73	17.52	16.19	16.23	16.62	19.81

March 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,024,893K ÷ $13,974K
= 73.34

ELF Beauty Inc's fixed asset turnover ratio has shown an overall increasing trend over the past several quarters, indicating improved efficiency in generating sales from its investment in fixed assets. The fixed asset turnover ratio measures how effectively the company is utilizing its fixed assets to generate revenue.

In the most recent period, as of March 31, 2024, the fixed asset turnover ratio was 73.34, which suggests that the company generated $73.34 in sales for every dollar invested in fixed assets. This indicates a significant improvement from the ratio of 69.59 in the previous quarter ended December 31, 2023.

The company's fixed asset turnover ratio has steadily increased from 2019 to 2024, reflecting a positive trend in asset utilization efficiency. The ratio peaked at 100.48 in September 2023, indicating that the company was able to generate over $100 in sales for every dollar invested in fixed assets at that time.

Overall, the increasing trend in ELF Beauty Inc's fixed asset turnover ratio suggests that the company has been effectively managing and utilizing its fixed assets to drive revenue growth.