Innoviva Inc (INVA)
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 | 291,306 | 265,493 | 264,791 | 292,746 | 287,188 | 335,952 | 366,863 | 358,359 | 372,796 | 355,782 | 346,801 | 325,125 | 318,463 | 308,609 | 285,580 | 270,641 | 247,045 | 250,932 | 246,312 | 253,952 |
| Property, plant and equipment | US$ in thousands | 483 | 361 | 161 | 180 | 170 | 165 | 176 | 191 | 12 | 15 | 19 | 24 | 28 | 33 | 37 | 42 | 33 | 24 | 136 | 148 |
| Fixed asset turnover | 603.12 | 735.44 | 1,644.66 | 1,626.37 | 1,689.34 | 2,036.07 | 2,084.45 | 1,876.23 | 31,066.33 | 23,718.80 | 18,252.68 | 13,546.88 | 11,373.68 | 9,351.79 | 7,718.38 | 6,443.83 | 7,486.21 | 10,455.50 | 1,811.12 | 1,715.89 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $291,306K ÷ $483K
= 603.12
The fixed asset turnover ratio for Innoviva Inc has shown fluctuations over the past eight quarters, ranging from a low of 642.78 in Q4 2023 to a high of 2,294.44 in Q2 2022. This ratio measures the efficiency with which the company is generating revenue from its investment in fixed assets. A higher ratio indicates that the company is utilizing its fixed assets effectively to generate sales revenue.
The trend in Innoviva Inc's fixed asset turnover ratio shows variability over time, with some quarters demonstrating a more efficient use of fixed assets compared to others. The significant decrease in Q4 2023 compared to the previous quarter could suggest a potential decline in the company's ability to generate revenue from its fixed assets efficiently.
It is essential for the company to closely monitor this ratio and identify factors contributing to fluctuations to ensure optimal utilization of fixed assets and sustained revenue generation. Further analysis and comparison with industry benchmarks may provide additional insights into the company's operational efficiency and asset utilization.
Peer comparison
Dec 31, 2023