Group 1 Automotive Inc (GPI)

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	17,760,500	17,358,100	16,826,700	16,421,000	16,137,700	15,590,700	14,935,700	14,495,500	13,664,700	13,097,100	12,626,600	11,044,500	10,721,000	10,910,400	10,987,000	11,869,400	11,991,360	11,788,770	11,560,390	11,497,440
Property, plant and equipment	US$ in thousands	1,977,400	2,224,900	2,225,500	2,162,700	1,906,800	2,037,600	1,998,400	1,994,500	1,788,700	1,644,500	1,645,900	1,640,100	1,608,200	1,592,000	1,548,900	1,549,000	1,547,100	1,484,800	1,422,990	1,370,740
Fixed asset turnover		8.98	7.80	7.56	7.59	8.46	7.65	7.47	7.27	7.64	7.96	7.67	6.73	6.67	6.85	7.09	7.66	7.75	7.94	8.12	8.39

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $17,760,500K ÷ $1,977,400K
= 8.98

Group 1 Automotive, Inc.'s fixed asset turnover ratio has been relatively stable over the past eight quarters, ranging from 7.18 to 7.95. This indicates that the company is generating approximately $7.18 to $7.95 in sales revenue for every dollar invested in fixed assets. The consistently high fixed asset turnover ratios suggest that the company is utilizing its fixed assets efficiently to generate revenue. It also implies that Group 1 Automotive, Inc. has been able to effectively manage its fixed assets to support its sales activities. Overall, the trend in the fixed asset turnover ratio indicates that Group 1 Automotive, Inc. has been effectively utilizing its fixed assets to drive revenue growth over the analyzed period.