Helix Energy Solutions Group Inc (HLX)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,289,730	873,100	674,728	733,555	751,909
Property, plant and equipment	US$ in thousands	1,572,850	1,641,620	1,657,640	1,782,960	1,872,640
Fixed asset turnover		0.82	0.53	0.41	0.41	0.40

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,289,730K ÷ $1,572,850K
= 0.82

The fixed asset turnover ratio measures how efficiently a company is using its fixed assets to generate revenue. A higher ratio indicates better asset utilization.

In the case of Helix Energy Solutions Group Inc, the fixed asset turnover has shown a positive trend over the past five years. The ratio has increased from 0.40 in 2019 to 0.82 in 2023, suggesting improved efficiency in utilizing fixed assets to generate revenue.

The significant improvement in the fixed asset turnover ratio indicates that Helix Energy Solutions Group Inc has become more efficient in generating revenue from its fixed assets over the years. This could be a result of better management of fixed assets, increased operational efficiency, or strategic investments in productive assets.

Overall, the rising trend in fixed asset turnover for Helix Energy Solutions Group Inc reflects positively on the company's ability to generate revenue using its fixed assets, demonstrating improved operational efficiency and potentially leading to stronger financial performance in the future.