Elevance Health Inc (ELV)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 171,340,000 | 156,595,000 | 138,639,000 | 121,867,000 | 104,213,000 |
| Property, plant and equipment | US$ in thousands | 4,359,000 | 4,316,000 | 3,919,000 | 3,483,000 | 3,133,000 |
| Fixed asset turnover | 39.31 | 36.28 | 35.38 | 34.99 | 33.26 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $171,340,000K ÷ $4,359,000K
= 39.31
Fixed asset turnover measures how efficiently a company generates revenue from its fixed assets. Elevance Health Inc's fixed asset turnover has shown a positive trend over the past five years, increasing from 32.92 in 2019 to 39.05 in 2023. This indicates that the company is effectively utilizing its fixed assets to generate sales. A higher fixed asset turnover ratio implies that the company is efficient in managing its property, plant, and equipment to generate revenue. Elevance Health Inc's improving fixed asset turnover ratio suggests effective management of its fixed assets and operational efficiency.
Peer comparison
Dec 31, 2023