Kelly Services A Inc (KELYA)

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	4,835,500	3,861,600	3,911,600	2,700,700	1,433,300	2,422,100	2,449,600	3,702,000	4,906,200	4,897,300	4,739,800	4,458,800	4,516,300	4,613,700	4,843,900	5,235,600	5,355,600	5,432,500	5,507,200	5,526,600
Property, plant and equipment	US$ in thousands	24,600	28,800	28,800	28,600	27,800	24,900	25,400	32,000	35,300	36,100	37,700	38,900	41,000	40,800	41,600	38,100	43,100	82,700	83,400	155,500
Fixed asset turnover		196.57	134.08	135.82	94.43	51.56	97.27	96.44	115.69	138.99	135.66	125.72	114.62	110.15	113.08	116.44	137.42	124.26	65.69	66.03	35.54

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,835,500K ÷ $24,600K
= 196.57

Kelly Services, Inc.'s fixed asset turnover ratio has displayed some fluctuations over the past eight quarters. The ratio peaked at 200.08 in Q3 2022 before gradually decreasing to 156.26 in Q1 2022. However, the ratio showed an upward trend in the most recent quarters, reaching 196.57 in Q4 2023.

Overall, the company has been successful in generating revenue in relation to its investment in fixed assets, with higher turnover ratios indicating that Kelly Services is utilizing its fixed assets efficiently to generate sales. This trend suggests that the company has been effectively managing and utilizing its fixed assets to generate revenue over the analyzed period.