Mednax Inc (MD)
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 | 1,952,565 | 1,970,095 | 1,954,256 | 1,942,533 | 1,875,310 | 1,838,785 | 1,833,740 | 1,819,476 | 1,820,657 | 1,742,618 | 1,700,649 | 1,718,227 | 2,121,961 | 2,610,331 | 3,035,720 | 3,392,011 | 3,394,161 | 3,423,711 | 3,439,807 | 3,496,892 |
| Property, plant and equipment | US$ in thousands | 75,639 | 75,146 | 73,334 | 72,928 | 73,290 | 71,656 | 72,150 | 72,458 | 70,154 | 72,552 | 68,481 | 80,805 | 76,191 | 78,570 | 98,469 | 100,227 | 72,677 | 93,731 | 92,720 | 89,037 |
| Fixed asset turnover | 25.81 | 26.22 | 26.65 | 26.64 | 25.59 | 25.66 | 25.42 | 25.11 | 25.95 | 24.02 | 24.83 | 21.26 | 27.85 | 33.22 | 30.83 | 33.84 | 46.70 | 36.53 | 37.10 | 39.27 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,952,565K ÷ $75,639K
= 25.81
Fixed asset turnover is a key financial ratio that measures the efficiency of a company in generating revenue from its investment in fixed assets. Pediatrix Medical Group Inc's fixed asset turnover has been relatively stable and high in recent quarters, ranging from 26.37 to 27.31. This indicates that the company is effectively utilizing its fixed assets to generate sales.
A fixed asset turnover ratio above 1 indicates that the company is producing more revenue per dollar invested in fixed assets. Pediatrix's consistently high fixed asset turnover suggests efficient use of its property, plant, and equipment to generate sales.
The increase in fixed asset turnover from Q4 2022 to Q2 2023 indicates an improvement in the company's ability to generate revenue from its fixed assets during this period. Overall, Pediatrix appears to be effectively managing its fixed assets to drive revenue growth and maximize operational efficiency.
Peer comparison
Dec 31, 2023