Heritage Financial Corporation (HFWA)
Fixed asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 265,129 | 279,191 | 286,285 | 267,562 | 264,209 | 262,785 | 267,635 | 261,594 | 248,976 | 237,032 | 229,899 | 235,397 | 240,404 | 246,397 | 244,679 | 240,678 | 238,226 | 232,612 | 233,425 | 232,964 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | 76,436 | 79,401 | 80,094 | 76,930 | 76,683 | 77,164 | 78,737 | 79,370 | 79,958 | 82,835 | 84,533 | 85,452 | 89,831 | 86,897 | 87,958 |
| Fixed asset turnover | — | — | — | — | — | 3.44 | 3.37 | 3.27 | 3.24 | 3.09 | 2.98 | 2.99 | 3.03 | 3.08 | 2.95 | 2.85 | 2.79 | 2.59 | 2.69 | 2.65 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $265,129K ÷ $—K
= —
Fixed asset turnover is a financial ratio that measures a company's ability to generate sales from its fixed assets. In the case of Heritage Financial Corporation, the fixed asset turnover has shown a generally positive trend over the last few years.
The company's fixed asset turnover ratio was 2.65 as of March 31, 2020, and has steadily increased to reach 3.44 as of September 30, 2023. This indicates that, on average, the company generated $3.44 in sales for every dollar invested in fixed assets during that period.
However, there was a slight decline in the fixed asset turnover ratio in the most recent periods, dropping to 3.24 as of December 31, 2023. The subsequent quarters of March 31, 2024, June 30, 2024, September 30, 2024, do not have data available, indicating a potential data gap or a change in reporting.
Overall, the increasing trend in fixed asset turnover ratio signifies an improvement in the efficiency of Heritage Financial Corporation in utilizing its fixed assets to generate revenue. It suggests that the company has been able to maximize the productivity of its fixed assets in generating sales, which is a positive indicator of operational efficiency and asset utilization.