LeMaitre Vascular Inc (LMAT)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	387,188	321,568	306,513	257,563	234,262
Property, plant and equipment	US$ in thousands	21,754	17,901	17,059	15,036	14,854
Fixed asset turnover		17.80	17.96	17.97	17.13	15.77

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $387,188K ÷ $21,754K
= 17.80

Fixed asset turnover measures how efficiently a company is using its fixed assets to generate revenue. Lemaitre Vascular Inc's fixed asset turnover has been consistently high over the past five years, ranging from 7.89 to 9.05. This indicates that the company is effectively generating revenue relative to its investment in fixed assets. The declining trend in the fixed asset turnover from 2019 to 2020 may suggest a decrease in the efficiency of asset utilization, but the subsequent increase in the following years indicates improved performance in this aspect. Overall, Lemaitre Vascular Inc has demonstrated a strong ability to generate revenue from its fixed assets in recent years.