ExlService Holdings Inc (EXLS)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,619,020	1,412,250	1,106,200	951,676	981,632
Property, plant and equipment	US$ in thousands	99,596	82,328	85,662	92,404	79,142
Fixed asset turnover		16.26	17.15	12.91	10.30	12.40

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,619,020K ÷ $99,596K
= 16.26

The fixed asset turnover ratio for ExlService Holdings Inc has shown fluctuations over the past five years. In 2023, the ratio was recorded at 16.25, a decrease from the previous year's ratio of 17.05. This indicates that the company generated $16.25 in revenue for every dollar invested in fixed assets during the year.

While the ratio decreased in 2023, it is still significantly higher compared to the ratios in 2021, 2020, and 2019, which were 13.05, 10.32, and 12.53, respectively. This suggests that the company has become more efficient in utilizing its fixed assets to generate revenue in recent years.

Overall, the trend in the fixed asset turnover ratio for ExlService Holdings Inc indicates that the company has been improving its efficiency in generating revenue from its fixed assets, which is a positive indication of effective asset management.