Comfort Systems USA Inc (FIX)
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 | 5,206,760 | 4,966,380 | 4,708,270 | 4,429,790 | 4,140,366 | 3,879,260 | 3,593,146 | 3,289,091 | 3,073,636 | 2,916,513 | 2,796,716 | 2,826,289 | 2,856,659 | 2,877,282 | 2,870,101 | 2,776,935 | 2,615,277 | 2,484,052 | 2,371,670 | 2,256,411 |
| Property, plant and equipment | US$ in thousands | 208,568 | 186,864 | 170,089 | 155,021 | 143,949 | 138,229 | 132,646 | 127,711 | 128,554 | 115,538 | 113,589 | 115,039 | 117,206 | 119,131 | 121,569 | 113,974 | 109,796 | 108,129 | 108,343 | 102,774 |
| Fixed asset turnover | 24.96 | 26.58 | 27.68 | 28.58 | 28.76 | 28.06 | 27.09 | 25.75 | 23.91 | 25.24 | 24.62 | 24.57 | 24.37 | 24.15 | 23.61 | 24.36 | 23.82 | 22.97 | 21.89 | 21.96 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,206,760K ÷ $208,568K
= 24.96
Comfort Systems USA, Inc. has exhibited a consistent trend of improvement in fixed asset turnover over the past eight quarters. The fixed asset turnover ratio has progressively increased from 24.96 in Q4 2022 to 28.58 in Q1 2023, indicating that the company is generating more revenue relative to its investment in fixed assets. This suggests the company is utilizing its fixed assets more efficiently to generate sales.
The highest fixed asset turnover ratio was recorded in Q1 2023 at 28.58, indicating that Comfort Systems USA, Inc. generated $28.58 in revenue for every $1 invested in fixed assets during that quarter. This demonstrates a high level of efficiency in the utilization of fixed assets to drive revenue.
Overall, the increasing trend in fixed asset turnover reflects positively on the company's operational efficiency and effective management of its assets to drive productivity and revenue generation.
Peer comparison
Dec 31, 2023