Geo Group Inc (GEO)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,610,800 | 4,600,290 | 4,409,520 | 4,593,970 | 4,823,380 |
| Property, plant and equipment | US$ in thousands | 1,944,280 | 2,002,020 | 2,037,840 | 2,122,200 | 2,144,720 |
| Fixed asset turnover | 2.37 | 2.30 | 2.16 | 2.16 | 2.25 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $4,610,800K ÷ $1,944,280K
= 2.37
Geo Group, Inc.'s fixed asset turnover has shown a fluctuating trend over the past five years. The ratio indicates how efficiently the company generates revenue from its investments in fixed assets.
In 2023, the fixed asset turnover ratio increased to 1.24, reflecting that Geo Group, Inc. generated $1.24 in revenue for every dollar invested in fixed assets. This is an improvement from the previous year's ratio of 1.19 and suggests the company managed to utilize its fixed assets more efficiently.
Comparing the current ratio to 2021 and 2020, where it was 1.11, Geo Group, Inc.'s efficiency in generating revenue from fixed assets has improved. Although there was a slight dip in 2019, the company managed to bounce back and improve the turnover ratio.
Overall, the increasing trend in the fixed asset turnover ratio indicates that Geo Group, Inc. has been effectively utilizing its fixed assets to generate revenue, which is a positive sign for investors and stakeholders.
Peer comparison
Dec 31, 2023