Exelixis Inc (EXEL)

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	1,830,208	1,774,473	1,714,291	1,663,870	1,611,062	1,638,285	1,554,970	1,520,720	1,434,970	1,253,882	1,156,551	1,030,853	987,538	957,796	998,407	979,203	967,775	956,067	909,761	855,594
Property, plant and equipment	US$ in thousands	128,731	121,039	115,004	116,212	110,624	107,909	108,529	106,169	104,031	99,838	95,133	78,453	67,384	56,385	52,323	48,489	48,892	49,467	50,709	50,553
Fixed asset turnover		14.22	14.66	14.91	14.32	14.56	15.18	14.33	14.32	13.79	12.56	12.16	13.14	14.66	16.99	19.08	20.19	19.79	19.33	17.94	16.92

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,830,208K ÷ $128,731K
= 14.22

Exelixis Inc's fixed asset turnover has fluctuated over the period presented. The fixed asset turnover ratio measures how efficiently a company generates revenue from its investments in property, plant, and equipment. Generally, a higher ratio indicates better utilization of fixed assets to generate sales.

The trend analysis shows that the company experienced a gradual increase in fixed asset turnover from the first quarter of 2019 to the second quarter of 2020. This increase suggests improved efficiency in generating sales from its fixed assets during that period.

However, from the third quarter of 2020 onwards, there seems to be some volatility in the fixed asset turnover ratio, with fluctuations noted in each subsequent quarter until the end of 2023. The ratio ranged from 12.16 to 20.19 during this period.

It is essential for stakeholders to further investigate the reasons behind these fluctuations in the fixed asset turnover ratio to understand the efficiency of Exelixis Inc's fixed asset utilization and its impact on overall financial performance.