IDEX Corporation (IEX)
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 | 3,273,900 | 3,295,700 | 3,326,300 | 3,276,200 | 3,181,900 | 3,086,000 | 2,974,000 | 2,863,900 | 2,764,800 | 2,664,822 | 2,533,935 | 2,409,184 | 2,351,646 | 2,342,821 | 2,385,954 | 2,466,804 | 2,494,573 | 2,502,670 | 2,501,312 | 2,493,573 |
| Property, plant and equipment | US$ in thousands | 430,300 | 421,500 | 421,600 | 397,000 | 382,100 | 303,500 | 323,300 | 325,800 | 327,300 | 314,631 | 313,353 | 302,805 | 298,300 | 293,304 | 281,852 | 283,276 | 280,316 | 273,330 | 275,025 | 271,920 |
| Fixed asset turnover | 7.61 | 7.82 | 7.89 | 8.25 | 8.33 | 10.17 | 9.20 | 8.79 | 8.45 | 8.47 | 8.09 | 7.96 | 7.88 | 7.99 | 8.47 | 8.71 | 8.90 | 9.16 | 9.09 | 9.17 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,273,900K ÷ $430,300K
= 7.61
The fixed asset turnover ratio for Idex Corporation has shown some fluctuations over the past eight quarters, as per the data provided. Generally, a higher fixed asset turnover ratio indicates that the company is generating more revenue from its investments in fixed assets.
In the most recent quarter, Q4 2023, the fixed asset turnover ratio was 7.61, showing a slight decrease compared to the previous quarter. This may indicate that the company's ability to generate revenue from its fixed assets has slightly declined.
Looking at the trend over the past year, the fixed asset turnover ratio has generally been in the range of 7.61 to 10.17. The peak in Q3 2022 at 10.17 suggests that during that quarter, Idex Corporation was particularly efficient in generating revenue from its fixed assets. However, the ratio has since decreased and stabilized in the subsequent quarters.
Overall, Idex Corporation's fixed asset turnover ratio has been relatively high compared to industry benchmarks, indicating efficient utilization of its fixed assets to generate revenue. It will be important for stakeholders to monitor future trends to ensure that the company continues to effectively leverage its fixed assets for revenue generation.
Peer comparison
Dec 31, 2023