Merit Medical Systems Inc (MMSI)

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	1,241,203	1,213,421	1,188,414	1,165,681	1,144,662	1,131,114	1,111,439	1,096,568	1,069,451	1,049,645	1,025,702	962,507	955,554	955,472	953,411	990,405	985,453	960,780	940,439	909,348
Property, plant and equipment	US$ in thousands	383,523	383,326	384,362	387,450	382,976	376,156	371,451	371,909	371,658	373,456	373,801	378,177	382,728	383,804	383,629	384,860	378,785	366,901	350,519	340,764
Fixed asset turnover		3.24	3.17	3.09	3.01	2.99	3.01	2.99	2.95	2.88	2.81	2.74	2.55	2.50	2.49	2.49	2.57	2.60	2.62	2.68	2.67

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,241,203K ÷ $383,523K
= 3.24

The fixed asset turnover ratio for Merit Medical Systems, Inc. has been relatively stable over the past eight quarters, ranging from 2.96 to 3.28. This ratio measures how efficiently the company is utilizing its fixed assets to generate revenue.

A higher fixed asset turnover ratio indicates that the company is generating more revenue per dollar of investment in fixed assets. In this case, Merit Medical Systems, Inc. has shown consistent efficiency in utilizing its fixed assets to generate sales, with the ratio consistently above 3.0 for most quarters.

Overall, the trend suggests that the company has been effectively managing its fixed assets to support its revenue generation activities. However, it would be beneficial to further analyze the specific components contributing to this ratio to determine the effectiveness of the company's asset management strategies.