HNI Corp (HNI)

Fixed asset turnover

		Dec 31, 2024	Sep 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	Dec 31, 2019
Revenue (ttm)	US$ in thousands	2,582,500	2,651,600	2,542,900	2,434,000	2,323,100	2,210,300	2,268,500	2,361,700	2,395,700	2,383,600	2,272,400	2,184,393	2,136,642	2,057,005	1,963,961	1,948,372	2,000,722	2,119,093	2,225,230	2,233,871
Property, plant and equipment	US$ in thousands	529,600	539,500	552,200	555,200	559,800	579,600	354,800	352,500	349,100	346,100	363,641	366,800	362,008	360,305	362,890	365,957	364,333	368,847	374,586	381,507
Fixed asset turnover		4.88	4.91	4.61	4.38	4.15	3.81	6.39	6.70	6.86	6.89	6.25	5.96	5.90	5.71	5.41	5.32	5.49	5.75	5.94	5.86

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,582,500K ÷ $529,600K
= 4.88

HNI Corp's fixed asset turnover has shown some fluctuations over the reported periods, ranging from a low of 3.81 to a high of 6.89. The trend has been mostly increasing from December 31, 2019, to June 30, 2022, indicating that the company was generating more revenue relative to its investment in fixed assets during this period.

However, there was a noticeable decline from June 30, 2022, to December 31, 2022, followed by a recovery in the first half of 2023. Subsequently, the fixed asset turnover decreased again by the end of 2023, reaching 4.38, before slightly improving in the following periods.

Overall, the trend in HNI Corp's fixed asset turnover suggests that the company's efficiency in utilizing its fixed assets to generate sales has been inconsistent. Further analysis would be necessary to understand the specific factors driving these changes and to assess the company's overall operational performance.