Expeditors International of Washington Inc (EXPD)

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	9,280,370	10,434,340	12,608,090	14,972,040	17,046,400	19,014,300	18,971,410	17,977,190	16,670,430	14,455,080	12,600,620	11,572,160	10,116,480	8,992,230	8,602,290	8,057,240	8,175,430	8,366,090	8,382,180	8,304,160
Property, plant and equipment	US$ in thousands	479,225	480,924	494,539	500,482	501,916	480,941	495,328	504,125	487,870	491,577	499,282	497,376	506,425	499,189	497,762	484,588	499,344	494,153	499,233	500,853
Fixed asset turnover		19.37	21.70	25.49	29.92	33.96	39.54	38.30	35.66	34.17	29.41	25.24	23.27	19.98	18.01	17.28	16.63	16.37	16.93	16.79	16.58

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $9,280,370K ÷ $479,225K
= 19.37

Expeditors International Of Washington, Inc.'s fixed asset turnover has shown a consistent increasing trend from Q1 2022 to Q4 2023. The ratio has steadily improved, indicating that the company is generating more revenue per dollar of fixed assets invested. This suggests the efficient utilization of fixed assets in generating sales or revenue over the periods analyzed.

A high fixed asset turnover ratio like those reported by Expeditors International Of Washington, Inc. in the most recent quarters (Q2 2023 to Q4 2023) indicates that the company is utilizing its fixed assets effectively to generate sales. The efficiency in managing fixed assets to generate revenue is a positive sign for investors and creditors, as it indicates operational effectiveness and potentially superior return on investment.

Overall, Expeditors International Of Washington, Inc.'s increasing trend in fixed asset turnover reflects efficient asset management and effective utilization of resources to drive revenue growth. However, it is essential to consider other financial metrics and industry benchmarks for a comprehensive assessment of the company's overall financial performance and operational efficiency.