Fulgent Genetics Inc (FLGT)
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 | 289,213 | 286,412 | 307,380 | 364,868 | 618,968 | 802,935 | 925,148 | 953,423 | 992,584 | 1,035,891 | 909,739 | 773,388 | 421,712 | 135,121 | 43,752 | 34,911 | 32,528 | 29,814 | 25,092 | 22,068 |
| Property, plant and equipment | US$ in thousands | 83,464 | 85,265 | 87,556 | 79,083 | 81,353 | 81,807 | 86,049 | 68,622 | 62,287 | 60,166 | 51,086 | 46,987 | 40,199 | 17,385 | 6,013 | 5,698 | 5,974 | 6,396 | 5,937 | 6,046 |
| Fixed asset turnover | 3.47 | 3.36 | 3.51 | 4.61 | 7.61 | 9.81 | 10.75 | 13.89 | 15.94 | 17.22 | 17.81 | 16.46 | 10.49 | 7.77 | 7.28 | 6.13 | 5.44 | 4.66 | 4.23 | 3.65 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $289,213K ÷ $83,464K
= 3.47
The fixed asset turnover ratio for Fulgent Genetics Inc has shown a declining trend over the past four quarters, with values of 3.47 in Q4 2023, 3.36 in Q3 2023, and 3.51 in Q2 2023. This indicates that the company is generating less revenue relative to its fixed assets in these periods compared to the prior year.
However, looking at the performance in Q1 2023, there was a significant improvement in the fixed asset turnover ratio, which reached 4.61. This suggests that the company was able to generate higher revenue from its fixed assets in this quarter.
Comparing the most recent data to the same period in the previous year, there has been a substantial decrease in fixed asset turnover, with ratios of 7.61 in Q4 2022, 9.81 in Q3 2022, 10.75 in Q2 2022, and 13.89 in Q1 2022. This indicates a decline in the efficiency of utilizing fixed assets to generate revenue over the year.
Overall, Fulgent Genetics Inc's fixed asset turnover has been fluctuating, and the recent downward trend suggests a potential inefficiency in utilizing fixed assets to generate sales, which may warrant further investigation into the company's operational performance and asset utilization strategies.
Peer comparison
Dec 31, 2023