Exelixis Inc (EXEL)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,830,210	1,611,060	1,434,970	987,538	967,775
Property, plant and equipment	US$ in thousands	128,731	110,624	104,031	67,384	48,892
Fixed asset turnover		14.22	14.56	13.79	14.66	19.79

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,830,210K ÷ $128,731K
= 14.22

Exelixis Inc's fixed asset turnover ratio has shown a fluctuating trend over the past five years. The ratio stood at 19.79 in 2019 but decreased to 14.66 in 2020 before slightly increasing to 13.79 in 2021. However, there was a recovery in 2022 with a ratio of 14.56. In the most recent year, 2023, the fixed asset turnover ratio further improved to 14.22.

A high fixed asset turnover ratio indicates that the company efficiently utilizes its fixed assets to generate revenue. Despite the fluctuations over the years, Exelixis Inc has generally maintained a healthy level of efficiency in generating sales using its fixed assets. This trend suggests that the company has been effectively managing its fixed assets to drive revenue growth.