Green Plains Renewable Energy Inc (GPRE)

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	3,295,743	3,497,394	3,559,601	3,714,359	3,662,845	3,551,121	3,342,935	3,054,963	2,827,168	2,503,613	2,180,884	1,844,490	1,923,719	2,160,632	2,368,920	2,611,466	2,417,238	2,285,069	2,441,767	2,618,906
Property, plant and equipment	US$ in thousands	1,021,930	1,011,290	1,024,560	1,028,490	1,029,330	1,016,350	980,917	940,912	893,517	842,141	808,221	799,546	801,690	858,490	850,369	843,466	827,271	809,041	872,154	879,046
Fixed asset turnover		3.23	3.46	3.47	3.61	3.56	3.49	3.41	3.25	3.16	2.97	2.70	2.31	2.40	2.52	2.79	3.10	2.92	2.82	2.80	2.98

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,295,743K ÷ $1,021,930K
= 3.23

Green Plains Inc's fixed asset turnover has been relatively stable over the past eight quarters, ranging from 3.23 to 3.61. This indicates that the company is generating approximately $3.23 to $3.61 in sales for every dollar invested in fixed assets. The trend shows a slight fluctuation, with a peak in Q1 2023 at 3.61 and a low in Q4 2023 at 3.23.

Overall, a fixed asset turnover ratio above 1 implies that Green Plains Inc is effectively utilizing its fixed assets to generate revenue. The consistent performance in this ratio suggests that the company is efficiently managing its assets to drive sales. It is essential for management to continue monitoring and optimizing the utilization of fixed assets to maintain and potentially improve this efficiency in the future.