Glaukos Corp (GKOS)

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	303,223	293,554	286,692	278,963	272,731	274,744	281,666	290,488	292,910	292,904	283,025	236,490	222,935	215,550	208,628	235,970	236,597	224,824	210,423	192,784
Property, plant and equipment	US$ in thousands	103,212	103,075	102,674	98,331	94,403	87,307	80,921	74,708	68,969	60,800	54,380	43,314	24,008	23,408	23,210	22,760	22,056	20,038	20,497	19,535
Fixed asset turnover		2.94	2.85	2.79	2.84	2.89	3.15	3.48	3.89	4.25	4.82	5.20	5.46	9.29	9.21	8.99	10.37	10.73	11.22	10.27	9.87

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $303,223K ÷ $103,212K
= 2.94

The fixed asset turnover ratio of Glaukos Corporation has been relatively stable over the past eight quarters, ranging from 2.89 to 3.56. This ratio measures the company's ability to generate sales revenue from its investment in fixed assets. A higher ratio indicates that the company is effectively utilizing its fixed assets to generate sales.

Looking at the trend, we observe that the fixed asset turnover ratio peaked in Q1 2022 at 3.93 and has since gradually decreased. Despite minor fluctuations, the ratio has stayed above 2.89, reflecting consistent efficiency in utilizing fixed assets to generate revenue.

Overall, the trend suggests that Glaukos Corporation has been efficient in generating sales revenue relative to its investment in fixed assets over the past eight quarters. However, management should continue to monitor and optimize the utilization of fixed assets to maintain and potentially increase this efficiency in the future.