ICU Medical Inc (ICUI)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,259,130	2,280,000	1,316,310	1,271,000	1,266,210
Property, plant and equipment	US$ in thousands	612,909	636,113	468,365	466,628	456,085
Fixed asset turnover		3.69	3.58	2.81	2.72	2.78

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,259,130K ÷ $612,909K
= 3.69

The fixed asset turnover ratio of ICU Medical, Inc. has shown a generally increasing trend over the past five years, indicating the company's improved efficiency in generating sales from its investment in fixed assets. The ratio increased from 2.78 in 2019 to 3.69 in 2023, reaching its peak during this period. This suggests that ICU Medical has been effectively utilizing its fixed assets to generate revenue. The consistent improvement in this ratio reflects positively on the company's operational efficiency and management of its fixed asset base. Overall, ICU Medical's fixed asset turnover shows a positive trend, indicating efficient utilization of fixed assets in generating sales.