HealthEquity Inc (HQY)

Fixed asset turnover

		Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Revenue	US$ in thousands	945,655	815,511	717,771	700,488	507,971
Property, plant and equipment	US$ in thousands	6,013	12,862	23,372	29,106	33,486
Fixed asset turnover		157.27	63.40	30.71	24.07	15.17

January 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $945,655K ÷ $6,013K
= 157.27

HealthEquity Inc's fixed asset turnover has shown a consistent upward trend over the past five years, indicating that the company has been more efficient in generating revenue relative to its investment in fixed assets. The sharp increase from 15.17 in January 2020 to 157.27 in January 2024 suggests a significant improvement in asset utilization efficiency. This substantial growth may reflect effective management of fixed assets or a change in the business model that has led to higher revenues generated from these assets. Overall, the increasing trend in fixed asset turnover demonstrates HealthEquity Inc's ability to utilize its fixed assets more efficiently to drive revenue growth.