Installed Building Products Inc (IBP)
Fixed asset turnover
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,746,664 | 2,702,728 | 2,720,605 | 2,704,681 | 2,627,372 | 2,480,286 | 2,267,738 | 2,081,968 | 1,934,728 | 1,846,449 | 1,757,295 | 1,662,899 | 1,623,163 | 1,590,343 | 1,565,412 | 1,545,395 | 1,491,865 | 1,443,755 | 1,399,481 | 1,360,209 |
| Property, plant and equipment | US$ in thousands | 128,100 | 124,499 | 121,303 | 117,225 | 109,846 | 107,651 | 108,066 | 102,599 | 100,667 | 99,958 | 105,734 | 105,162 | 104,022 | 104,900 | 103,422 | 106,262 | 106,410 | 102,148 | 92,655 | 91,391 |
| Fixed asset turnover | 21.44 | 21.71 | 22.43 | 23.07 | 23.92 | 23.04 | 20.98 | 20.29 | 19.22 | 18.47 | 16.62 | 15.81 | 15.60 | 15.16 | 15.14 | 14.54 | 14.02 | 14.13 | 15.10 | 14.88 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,746,664K ÷ $128,100K
= 21.44
Installed Building Products Inc's fixed asset turnover ratio has shown a consistent upward trend over the past eight quarters, indicating the company's ability to efficiently generate revenue from its fixed assets. The ratio ranged from 19.65 to 22.48, with the highest value recorded in Q4 2022. This suggests that for every dollar invested in fixed assets, the company generated between $19.65 and $22.48 in revenue over the respective quarters.
The overall increasing trend in fixed asset turnover reflects management's effective utilization of the company's fixed assets to drive sales. This could indicate improved operational efficiency, better asset management, or increased productivity over the quarters analyzed. However, it's also essential to consider other factors such as industry benchmarks and competitors' performance to provide a more holistic assessment of Installed Building Products Inc's operating efficiency.
Peer comparison
Dec 31, 2023