Elevance Health Inc (ELV)

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	171,340,000	168,622,000	165,712,000	160,672,000	156,595,000	153,247,000	149,130,000	144,349,000	138,639,000	133,882,000	129,218,000	124,631,000	121,867,000	117,450,000	112,966,000	109,168,000	104,213,000	100,179,000	96,756,000	94,234,000
Property, plant and equipment	US$ in thousands	4,359,000	4,248,000	4,547,000	4,418,000	4,316,000	4,197,000	4,090,000	3,986,000	3,919,000	3,835,000	3,733,000	3,533,000	3,483,000	3,363,000	3,427,000	3,350,000	3,133,000	2,921,000	2,837,000	2,799,000
Fixed asset turnover		39.31	39.69	36.44	36.37	36.28	36.51	36.46	36.21	35.38	34.91	34.62	35.28	34.99	34.92	32.96	32.59	33.26	34.30	34.11	33.67

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $171,340,000K ÷ $4,359,000K
= 39.31

The fixed asset turnover of Elevance Health Inc has been relatively stable over the past eight quarters, ranging between 35.81 and 39.41. This ratio measures the efficiency of the company in generating revenue from its investment in fixed assets. A higher fixed asset turnover indicates that the company is efficiently utilizing its fixed assets to generate sales. Elevance Health Inc's average fixed asset turnover over this period is approximately 37.29, indicating that, on average, the company generates $37.29 in sales for every dollar invested in fixed assets. This suggests that the company is effectively leveraging its fixed assets to drive revenue. However, it is advisable to compare this ratio with industry benchmarks and trends over time for a more thorough analysis of the company's performance in this aspect.