Harmony Biosciences Holdings (HRMY)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	548,499	419,060	255,101	134,691
Property, plant and equipment	US$ in thousands	371	573	820	938
Fixed asset turnover		1,478.43	731.34	311.10	143.59

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $548,499K ÷ $371K
= 1,478.43

Harmony Biosciences Holdings Inc's fixed asset turnover has shown a consistent upward trend over the past four years, increasing from 170.30 in 2020 to 1,568.79 in 2023. This signifies that the company is generating more revenue per dollar invested in fixed assets. A higher fixed asset turnover ratio typically indicates more efficient utilization of fixed assets to generate sales. This improvement suggests that Harmony Biosciences Holdings Inc has been able to enhance productivity and efficiency in utilizing its fixed assets effectively over the years.