EPAM Systems Inc (EPAM)

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	4,656,750	4,778,720	4,882,220	4,826,940	4,720,160	4,556,090	4,307,578	4,075,331	3,750,945	3,360,418	3,033,459	2,780,002	2,654,811	2,570,115	2,496,974	2,421,783	2,281,749	2,155,221	2,037,895	1,935,517
Property, plant and equipment	US$ in thousands	235,053	239,654	255,772	267,067	273,348	209,700	211,119	219,639	236,214	176,881	173,545	164,749	169,533	163,689	167,359	164,671	165,259	115,321	111,175	105,805
Fixed asset turnover		19.81	19.94	19.09	18.07	17.27	21.73	20.40	18.55	15.88	19.00	17.48	16.87	15.66	15.70	14.92	14.71	13.81	18.69	18.33	18.29

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,656,750K ÷ $235,053K
= 19.81

The fixed asset turnover ratio for EPAM Systems Inc has been relatively stable over the past eight quarters, ranging from 17.65 to 22.42. This ratio indicates how efficiently the company is using its fixed assets to generate revenue. A higher fixed asset turnover ratio suggests that the company is able to generate more revenue per dollar of fixed assets it holds.

EPAM Systems Inc's fixed asset turnover has shown a decreasing trend in the most recent quarters, with a slight dip from Q3 2023 to Q4 2023. However, overall, the company has maintained a healthy level of efficiency in utilizing its fixed assets to generate revenue.

It is important to note that fixed asset turnover ratio should be analyzed in conjunction with other financial ratios and factors affecting the company's operations to get a complete understanding of its financial performance and efficiency in asset utilization.