Incyte Corporation (INCY)

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	3,693,101	3,609,260	3,513,520	3,470,962	3,395,993	3,330,147	3,320,472	3,114,784	2,986,267	2,912,923	2,720,579	2,702,913	2,666,702	2,456,582	2,387,520	2,229,409	2,158,759	2,107,772	2,005,874	1,997,458
Property, plant and equipment	US$ in thousands	751,513	733,046	749,352	741,701	739,310	715,733	721,328	729,217	723,920	686,718	661,360	594,670	559,625	498,335	453,777	410,034	377,567	347,250	339,122	338,331
Fixed asset turnover		4.91	4.92	4.69	4.68	4.59	4.65	4.60	4.27	4.13	4.24	4.11	4.55	4.77	4.93	5.26	5.44	5.72	6.07	5.91	5.90

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,693,101K ÷ $751,513K
= 4.91

Incyte Corp.'s fixed asset turnover ratio has shown relatively stable performance over the past eight quarters, ranging between 4.43 and 4.92. This indicates that, on average, the company generates approximately $4.50 to $4.80 in revenue for every $1 invested in fixed assets. Generally, a higher fixed asset turnover ratio is considered favorable as it suggests that the company is effectively utilizing its fixed assets to generate sales. Incyte Corp.'s consistent performance in this ratio reflects efficient management of its fixed assets to drive revenue generation. However, it's worth noting that the ratio has fluctuated slightly over the quarters, indicating potential variations in the company's operational efficiency or capital expenditure decisions. Overall, the trend suggests that Incyte Corp. has been able to maintain a solid level of productivity from its fixed assets, which is a positive indicator for its financial performance.