Innoviva Inc (INVA)

Fixed asset turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Revenue (ttm) US$ in thousands 365,623 363,089 340,840 318,478 313,895 290,426 290,424 317,652 331,339 373,216 403,821 396,407 391,866 374,662 365,494 343,634 336,794 322,289 299,350 284,511
Property, plant and equipment US$ in thousands — — — — — — — 180 3,435 165 176 3,985 12 15 19 24 28 33 37 42
Fixed asset turnover — — — — — — — 1,764.73 96.46 2,261.92 2,294.44 99.47 32,655.50 24,977.47 19,236.53 14,318.08 12,028.36 9,766.33 8,090.54 6,774.07

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $365,623K ÷ $—K
= —

The fixed asset turnover ratio for Innoviva Inc has shown a notable increasing trend over the past few years, indicating the company's ability to generate revenue with its fixed assets. The ratio increased from 6,774.07 in March 2020 to 32,655.50 in December 2021, reflecting a substantial improvement in efficiency in utilizing its fixed assets to generate sales.

However, there was a significant decline in the fixed asset turnover ratio in the first quarter of 2022, dropping to 99.47, which may indicate a decrease in sales relative to the value of fixed assets during that period.

In the subsequent quarters of 2022 and the first quarter of 2023, the fixed asset turnover remained relatively low, hovering around 1, indicating a potential ongoing challenge in maximizing the revenue generated from fixed assets.

It is important for Innoviva Inc to closely monitor and manage its fixed asset turnover ratio to ensure optimal utilization of its fixed assets and improve overall operational efficiency and profitability. Further analysis and strategic actions may be necessary to address any inefficiencies and improve the company's performance in this aspect.