GMS Inc (GMS)
Fixed asset turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,513,750 | 5,592,980 | 5,590,620 | 5,540,770 | 5,501,910 | 5,392,980 | 5,369,250 | 5,379,300 | 5,329,250 | 5,313,800 | 5,232,780 | 4,952,350 | 4,634,880 | 4,278,433 | 3,876,024 | 3,538,330 | 3,298,823 | 3,137,470 | 3,147,631 | 3,196,704 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 613,381 | 598,244 | 585,770 | 528,639 | 512,527 | 517,851 | 503,950 | 489,757 | 459,542 | 462,246 | 429,739 | 305,144 | 300,144 | 412,425 |
| Fixed asset turnover | — | — | — | — | — | — | 8.75 | 8.99 | 9.10 | 10.05 | 10.21 | 9.56 | 9.20 | 8.74 | 8.43 | 7.65 | 7.68 | 10.28 | 10.49 | 7.75 |
April 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,513,750K ÷ $—K
= —
The analysis of GMS Inc.'s fixed asset turnover ratio over the period from July 31, 2020, to October 31, 2023, reveals noteworthy trends and insights into the company's asset utilization efficiency. The ratio fluctuated within a range approximately from 7.65 to 10.49, indicating periods of varying asset productivity.
Initially, the ratio increased substantially from 7.75 on July 31, 2020, to a peak of 10.49 by October 31, 2020. This upward movement suggests an improvement in the efficiency of fixed asset utilization, likely attributable to higher sales relative to the company’s fixed asset base during this period.
Between late 2020 and mid-2021, the ratio remained relatively stable, with a slight decrease followed by a modest increase (10.28 on January 31, 2021, decreasing to 7.68 on April 30, 2021, then rising to 8.43 by October 31, 2021). This fluctuation reflects potential shifts in sales efficiency or changes in the fixed assets base.
From late 2021 onwards, the ratio exhibits a clear upward trend, reaching approximately 9.56 on July 31, 2022, and peaking at about 10.21 on October 31, 2022. The increasing trend indicates an ongoing improvement in asset productivity, possibly driven by optimized asset management or increased sales generated per unit of fixed assets.
However, after October 2022, the ratio demonstrates a slight decline, settling around 9.10 on April 30, 2023, and approximately 8.75 by October 31, 2023. The decrease may suggest a reduction in sales efficiency relative to fixed assets, a potential increase in fixed asset base that outpaced sales growth, or strategic asset investments that temporarily dampened asset turnover.
Overall, the trajectory shows periods of growth in fixed asset efficiency with the ratios largely hovering in the 8.75 to 10.49 range over the analyzed timeframe. These patterns imply that GMS Inc. has largely maintained a stable or improving capacity to generate sales from its fixed asset base, punctuated by minor fluctuations that may result from operational, strategic, or market factors.
The data beyond October 2023 is unavailable, preventing insights into subsequent performance or future trends. Nonetheless, the observed historical pattern indicates a generally positive trend in fixed asset utilization efficiency over the examined period.
Peer comparison
Apr 30, 2025