Glaukos Corp (GKOS)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	301,165	266,924	278,319	211,679	233,795
Property, plant and equipment	US$ in thousands	103,212	94,403	68,969	24,008	22,056
Fixed asset turnover		2.92	2.83	4.04	8.82	10.60

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $301,165K ÷ $103,212K
= 2.92

The fixed asset turnover ratio for Glaukos Corporation has shown a downward trend over the past five years, decreasing from 10.74 in 2019 to 3.05 in 2023. This indicates that the company's efficiency in generating revenue from its fixed assets has declined. A decreasing fixed asset turnover may suggest that the company is not utilizing its fixed assets as effectively as in previous years, potentially leading to inefficiencies or underutilization of resources. Further analysis is recommended to identify the root causes of this trend and potential strategies for improvement.