Heritage Financial Corporation (HFWA)
Fixed asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 309,712 | 239,538 | 248,976 | 240,404 | 238,226 |
| Property, plant and equipment | US$ in thousands | — | — | 76,930 | 79,370 | 85,452 |
| Fixed asset turnover | — | — | 3.24 | 3.03 | 2.79 |
December 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $309,712K ÷ $—K
= —
Based on the data provided for Heritage Financial Corporation's fixed asset turnover, we observe a positive trend over the years. The fixed asset turnover ratio has increased consistently from 2.79 in December 31, 2020, to 3.03 in December 31, 2021, and further to 3.24 in December 31, 2022. This indicates that the company is generating more revenue relative to its investment in fixed assets over time.
However, it is worth noting that the data is incomplete for the years 2023 and 2024, as the values are not available (represented by "—"). This lack of information hinders a complete assessment of the trend in fixed asset turnover for those years.
Overall, the increasing trend in fixed asset turnover from 2020 to 2022 suggests that Heritage Financial Corporation is becoming more efficient in utilizing its fixed assets to generate revenue. It would be beneficial to have the data for the missing years to provide a more comprehensive analysis of the company's performance in this aspect.