Innoviva Inc (INVA)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	358,711	310,463	331,339	391,866	336,794
Property, plant and equipment	US$ in thousands	—	—	3,435	12	28
Fixed asset turnover		—	—	96.46	32,655.50	12,028.36

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $358,711K ÷ $—K
= —

Innoviva Inc's fixed asset turnover ratio has shown significant fluctuations over the past few years. The ratio was exceptionally high at 12,028.36 as of December 31, 2020, indicating that the company generated revenue 12,028 times greater than its fixed assets investment. This likely reflects either an unusually efficient utilization of fixed assets or an accounting anomaly.

The ratio continued to increase substantially to 32,655.50 as of December 31, 2021, which suggests a further improvement in the company's ability to generate revenue from its fixed assets. However, this rapid increase may also raise questions about the sustainability of such performance.

A notable decline occurred in the fixed asset turnover ratio by December 31, 2022, dropping significantly to 96.46. This decline may indicate a decrease in the company's efficiency in generating sales from its fixed assets or a sharp increase in the value of fixed assets recorded on the balance sheet.

The absence of data for December 31, 2023, and December 31, 2024, prevents a complete analysis of the trend in the fixed asset turnover ratio. However, the drastic fluctuations observed in the available data highlight the importance of further investigating the underlying reasons for these changes to assess Innoviva Inc's operational efficiency and financial performance accurately.