Mesa Laboratories Inc (MLAB)
Fixed asset turnover
Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
---|---|---|---|---|---|---|
Revenue | US$ in thousands | 216,187 | 219,080 | 184,335 | 133,937 | 117,687 |
Property, plant and equipment | US$ in thousands | 31,766 | 28,149 | 28,620 | 21,998 | 22,066 |
Fixed asset turnover | 6.81 | 7.78 | 6.44 | 6.09 | 5.33 |
March 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $216,187K ÷ $31,766K
= 6.81
Mesa Laboratories Inc's fixed asset turnover ratio has exhibited a fluctuating trend over the past five years. The ratio indicates how efficiently the company generates revenue from its investment in fixed assets. A higher fixed asset turnover ratio typically suggests more efficient utilization of fixed assets to generate sales.
In the most recent fiscal year, ending March 31, 2024, Mesa Laboratories Inc achieved a fixed asset turnover ratio of 6.81, showing a decrease compared to the previous year's ratio of 7.78. This reduction may imply a slightly less efficient utilization of fixed assets to generate revenue during the period.
Despite the slight decline in the latest year, Mesa Laboratories Inc's fixed asset turnover ratios in recent years have generally remained at healthy levels, ranging from 5.33 to 7.78. This consistency suggests a relatively stable and efficient use of fixed assets to drive sales over the analyzed period.
Overall, while the fluctuation in Mesa Laboratories Inc's fixed asset turnover ratio indicates some variability in asset efficiency, the company has maintained a generally strong performance in converting its investment in fixed assets into revenue over the past five years.
Peer comparison
Mar 31, 2024