M/I Homes Inc (MHO)

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	4,033,498	4,277,910	4,244,470	4,271,110	4,131,391	3,966,141	3,857,530	3,777,920	3,745,885	3,600,562	3,544,164	3,297,318	3,046,145	2,881,868	2,687,292	2,596,784	2,500,290	2,480,625	2,395,122	2,329,534
Property, plant and equipment	US$ in thousands	34,918	36,015	35,495	37,419	37,446	35,217	36,150	36,776	37,648	23,644	23,997	24,939	26,612	25,696	21,004	21,046	22,118	27,621	28,094	28,392
Fixed asset turnover		115.51	118.78	119.58	114.14	110.33	112.62	106.71	102.73	99.50	152.28	147.69	132.22	114.47	112.15	127.94	123.39	113.04	89.81	85.25	82.05

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,033,498K ÷ $34,918K
= 115.51

Based on the data provided, the fixed asset turnover ratio for MI Homes Inc. has been relatively stable and consistent over the past eight quarters. The ratio has ranged from a low of 102.73 in Q1 2022 to a high of 119.58 in Q2 2023, indicating that the company efficiently utilizes its fixed assets to generate revenue.

The consistently high fixed asset turnover ratios suggest that MI Homes Inc. is effectively utilizing its fixed assets to generate sales revenue. This signifies that the company is efficient in managing its resources and maximizing the productivity of its fixed assets.

Overall, the trend of high fixed asset turnover ratios indicates that MI Homes Inc. is making effective use of its fixed assets to drive sales, which is a positive indicator of operational efficiency and profitability for the company.