LeMaitre Vascular Inc (LMAT)

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	289,940	282,011	312,579	295,977	281,639	280,188	278,441	275,316	267,547	265,592	262,196	231,031	220,642	213,264	198,609	208,001	203,956	202,175	168,273	142,095
Property, plant and equipment	US$ in thousands	21,754	21,357	21,217	19,242	17,901	15,351	15,753	16,683	17,059	16,997	15,794	15,200	15,036	14,133	15,685	14,791	14,854	14,070	14,163	14,109
Fixed asset turnover		13.33	13.20	14.73	15.38	15.73	18.25	17.68	16.50	15.68	15.63	16.60	15.20	14.67	15.09	12.66	14.06	13.73	14.37	11.88	10.07

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $289,940K ÷ $21,754K
= 13.33

Fixed asset turnover is a key financial ratio that measures how efficiently a company is utilizing its fixed assets to generate sales revenue. In the case of Lemaitre Vascular Inc, the fixed asset turnover ratio has been relatively stable over the past eight quarters, ranging from 8.35 to 10.44.

A fixed asset turnover ratio above 1 indicates that the company is generating more sales revenue per dollar of fixed assets, which is generally seen as a positive sign of operational efficiency. Lemaitre Vascular Inc consistently maintains a fixed asset turnover ratio well above 1, suggesting that the company is effectively using its fixed assets to drive revenue.

The quarterly fluctuations in the fixed asset turnover ratio may be influenced by factors such as changes in production levels, sales volumes, or asset utilization efficiency. Overall, the trend over the past eight quarters indicates that Lemaitre Vascular Inc has been successful in maximizing the productivity of its fixed assets to support its revenue generation activities.