Fulgent Genetics Inc (FLGT)

Fixed asset turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 283,470 289,213 618,968 992,584 421,712
Property, plant and equipment US$ in thousands — — 98,921 62,287 40,199
Fixed asset turnover — — 6.26 15.94 10.49

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $283,470K ÷ $—K
= —

The fixed asset turnover ratio measures how efficiently Fulgent Genetics Inc is utilizing its fixed assets to generate revenue. Looking at the trend over the years, we observe that the ratio increased significantly from 10.49 in 2020 to 15.94 in 2021, indicating that the company was able to generate more revenue relative to its investment in fixed assets. However, there was a notable decline in 2022, with the ratio dropping to 6.26, suggesting a decrease in asset utilization efficiency. The absence of data for 2023 and 2024 prevents us from assessing the recent performance. Overall, fluctuations in the fixed asset turnover ratio may reflect changes in operational efficiency and asset management strategies within Fulgent Genetics Inc.